7,500 Shares in Synovus Financial Corp. (NYSE:SNV) Acquired by Tradewinds LLC.

Tradewinds LLC. bought a new position in Synovus Financial Corp. (NYSE:SNV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,500 shares of the bank's stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNV. Norges Bank bought a new position in Synovus Financial in the 4th quarter worth approximately $77,209,000. AQR Capital Management LLC boosted its position in shares of Synovus Financial by 226.5% during the 4th quarter. AQR Capital Management LLC now owns 1,065,249 shares of the bank's stock valued at $54,573,000 after acquiring an additional 738,983 shares during the last quarter. FMR LLC boosted its position in shares of Synovus Financial by 3.6% during the 4th quarter. FMR LLC now owns 12,041,625 shares of the bank's stock valued at $616,892,000 after acquiring an additional 415,201 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Synovus Financial by 349.4% during the 4th quarter. Prudential Financial Inc. now owns 529,147 shares of the bank's stock valued at $27,108,000 after acquiring an additional 411,411 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Synovus Financial by 5,495.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 349,866 shares of the bank's stock valued at $17,924,000 after acquiring an additional 343,613 shares during the last quarter. 83.85% of the stock is owned by hedge funds and other institutional investors.

Synovus Financial Price Performance

Shares of NYSE SNV opened at $55.10 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $7.66 billion, a PE ratio of 15.43, a P/E/G ratio of 1.06 and a beta of 1.19. The business has a 50-day simple moving average of $48.40 and a two-hundred day simple moving average of $48.99. Synovus Financial Corp. has a fifty-two week low of $35.94 and a fifty-two week high of $59.92.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.19. The business had revenue of $573.24 million during the quarter, compared to the consensus estimate of $572.35 million. Synovus Financial had a return on equity of 15.87% and a net margin of 16.19%. As a group, equities analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 19th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Wednesday, June 18th. Synovus Financial's dividend payout ratio (DPR) is 43.70%.

Analysts Set New Price Targets

A number of research firms have recently commented on SNV. Raymond James Financial downgraded Synovus Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Morgan Stanley decreased their price target on Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. increased their price target on Synovus Financial from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Barclays decreased their price target on Synovus Financial from $66.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Royal Bank Of Canada decreased their price target on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Synovus Financial has a consensus rating of "Moderate Buy" and an average price target of $57.11.

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.

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