Deutsche Bank AG Has $7.03 Million Holdings in Synovus Financial Corp. (NYSE:SNV)

Deutsche Bank AG decreased its stake in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 21.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 137,297 shares of the bank's stock after selling 37,670 shares during the period. Deutsche Bank AG owned 0.10% of Synovus Financial worth $7,034,000 as of its most recent filing with the SEC.

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

Synovus Financial Trading Down 3.9%

Shares of SNV stock traded down $1.90 during trading hours on Wednesday, hitting $46.98. 894,825 shares of the company's stock traded hands, compared to its average volume of 1,403,262. The stock has a market cap of $6.53 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The stock's 50 day simple moving average is $44.50 and its 200 day simple moving average is $50.44. 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 12 month low of $35.81 and a 12 month high of $59.92.

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

Synovus Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a yield of 3.32%. This is a boost from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio is 43.70%.

Wall Street Analysts Forecast Growth

SNV has been the subject of several analyst reports. Truist Financial started coverage on shares of Synovus Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $56.00 price objective for the company. Raymond James cut Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Morgan Stanley reduced their price target on Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price objective on Synovus Financial from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Royal Bank of Canada cut their target price on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.