Capital Fund Management S.A. Makes New $951,000 Investment in Synovus Financial Corp. $SNV

Key Points

• Capital Fund Management S.A. invested approximately $951,000 in Synovus Financial Corp. during Q1 by acquiring 20,351 shares of the bank's stock.
• Most recent analyst ratings reflect a consensus of "Moderate Buy" for Synovus Financial, with ten analysts giving a Buy rating and an average price target of $59.94.
• Synovus Financial recently reported an EPS of $1.48 for the last quarter, exceeding expectations, alongside a quarterly dividend of $0.39 per share.

Capital Fund Management S.A. bought a new position in Synovus Financial Corp. (NYSE:SNV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,351 shares of the bank's stock, valued at approximately $951,000.

A number of other hedge funds also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC lifted its position in Synovus Financial by 2.3% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 2,370,521 shares of the bank's stock worth $121,442,000 after buying an additional 53,286 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Synovus Financial by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,577,840 shares of the bank's stock worth $73,748,000 after buying an additional 86,694 shares during the last quarter. Northern Trust Corp increased its stake in Synovus Financial by 32.4% in the 4th quarter. Northern Trust Corp now owns 1,380,098 shares of the bank's stock worth $70,702,000 after purchasing an additional 337,784 shares during the period. AQR Capital Management LLC increased its stake in Synovus Financial by 226.5% in the 4th quarter. AQR Capital Management LLC now owns 1,065,249 shares of the bank's stock worth $54,573,000 after purchasing an additional 738,983 shares during the period. Finally, Invesco Ltd. increased its stake in Synovus Financial by 201.0% in the 1st quarter. Invesco Ltd. now owns 820,782 shares of the bank's stock worth $38,363,000 after purchasing an additional 548,092 shares during the period. Institutional investors own 83.85% of the company's stock.

Synovus Financial Trading Up 1.3%

Shares of SNV traded up $0.68 during mid-day trading on Friday, hitting $51.54. 2,319,127 shares of the company's stock traded hands, compared to its average volume of 1,865,714. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.77. Synovus Financial Corp. has a 1 year low of $35.94 and a 1 year high of $61.06. The firm has a market capitalization of $7.15 billion, a P/E ratio of 9.89, a PEG ratio of 0.87 and a beta of 1.21. The business's 50-day moving average price is $51.46 and its 200-day moving average price is $48.32.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.23. Synovus Financial had a return on equity of 16.20% and a net margin of 21.52%.The firm had revenue of $592.08 million for the quarter, compared to analysts' expectations of $584.89 million. During the same period in the previous year, the firm earned $1.16 earnings per share. Synovus Financial has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 19th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.56 annualized dividend and a dividend yield of 3.0%. Synovus Financial's payout ratio is currently 29.94%.

Insider Transactions at Synovus Financial

In other news, Director Diana M. Murphy purchased 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $48.80 per share, for a total transaction of $48,800.00. Following the completion of the transaction, the director directly owned 40,171 shares of the company's stock, valued at $1,960,344.80. This trade represents a 2.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory G. Montana purchased 1,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $46.74 per share, for a total transaction of $46,740.00. Following the completion of the transaction, the director directly owned 4,341 shares of the company's stock, valued at $202,898.34. This represents a 29.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 8,040 shares of company stock valued at $392,916. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNV. Keefe, Bruyette & Woods cut Synovus Financial from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $65.00 to $50.00 in a research note on Tuesday, August 12th. Jefferies Financial Group began coverage on Synovus Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $55.00 price target on the stock. Stephens decreased their price target on Synovus Financial from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Morgan Stanley lifted their price target on Synovus Financial from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $58.00 price target (down from $62.00) on shares of Synovus Financial in a research note on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.94.

Synovus Financial Company Profile

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.