Deutsche Bank AG Sells 37,670 Shares of Synovus Financial Corp. (NYSE:SNV)

Deutsche Bank AG lessened its stake in Synovus Financial Corp. (NYSE:SNV - Free Report) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,297 shares of the bank's stock after selling 37,670 shares during the period. Deutsche Bank AG owned about 0.10% of Synovus Financial worth $7,034,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Synovus Financial in the 4th quarter valued at about $3,798,000. Northern Trust Corp grew its position in shares of Synovus Financial by 32.4% in the 4th quarter. Northern Trust Corp now owns 1,380,098 shares of the bank's stock valued at $70,702,000 after buying an additional 337,784 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Synovus Financial in the 4th quarter valued at about $1,504,000. SG Americas Securities LLC grew its position in shares of Synovus Financial by 11.0% in the 4th quarter. SG Americas Securities LLC now owns 12,547 shares of the bank's stock valued at $643,000 after buying an additional 1,240 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Synovus Financial by 4.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 51,357 shares of the bank's stock valued at $2,631,000 after buying an additional 2,166 shares during the last quarter. Institutional investors own 83.85% of the company's stock.

Synovus Financial Stock Down 0.5%

NYSE:SNV traded down $0.24 on Friday, hitting $47.02. The stock had a trading volume of 1,122,058 shares, compared to its average volume of 1,404,482. The business's fifty day moving average is $44.56 and its 200 day moving average is $50.39. The company has a market cap of $6.54 billion, a PE ratio of 15.42, a P/E/G ratio of 1.11 and a beta of 1.13. 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 Corp. has a 52 week low of $35.81 and a 52 week high of $59.92.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million for the quarter, compared to analyst estimates of $572.35 million. On average, equities research analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 20th. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is currently 43.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNV shares. Wells Fargo & Company cut their target price on Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Truist Financial started coverage on Synovus Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $56.00 target price on the stock. DA Davidson cut their target price on Synovus Financial from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group started coverage on Synovus Financial in a research report on Wednesday. They set a "hold" rating and a $55.00 target price on the stock. Finally, Stephens cut their target price on Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.56.

Synovus Financial 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.