Synovus Financial Corp. (NYSE:SNV) Stock Position Raised by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,158 shares of the bank’s stock after buying an additional 3,766 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Synovus Financial were worth $8,461,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of Synovus Financial by 7.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank’s stock valued at $6,525,000 after buying an additional 10,346 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Synovus Financial by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 276,863 shares of the bank’s stock valued at $14,261,000 after buying an additional 10,109 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Synovus Financial by 25.1% during the 3rd quarter. Quantinno Capital Management LP now owns 49,099 shares of the bank’s stock valued at $2,183,000 after buying an additional 9,852 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Synovus Financial in the 4th quarter worth about $3,798,000. Finally, Charles Schwab Investment Management Inc. grew its position in Synovus Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank’s stock worth $222,022,000 after purchasing an additional 147,599 shares during the last quarter. Institutional investors own 83.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SNV shares. JPMorgan Chase & Co. increased their price objective on shares of Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Stephens reiterated an “equal weight” rating and set a $58.00 price objective on shares of Synovus Financial in a research note on Thursday, January 16th. UBS Group assumed coverage on shares of Synovus Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company raised their price objective on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synovus Financial currently has an average rating of “Moderate Buy” and an average price target of $58.67.

Synovus Financial Trading Up 0.1 %

Shares of NYSE:SNV opened at $47.35 on Friday. The firm has a fifty day moving average of $52.18 and a two-hundred day moving average of $50.91. The firm has a market capitalization of $6.68 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. Synovus Financial Corp. has a 12-month low of $33.44 and a 12-month high of $59.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial (NYSE:SNV) last issued its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $580.58 million during the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, equities analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Synovus Financial’s previous quarterly dividend of $0.38. Synovus Financial’s dividend payout ratio (DPR) is currently 51.15%.

About Synovus Financial

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.