6,250 Shares in Synovus Financial Corp. $SNV Purchased by Eisler Capital Management Ltd.

Key Points

• Eisler Capital Management Ltd. has purchased 6,250 shares of Synovus Financial Corp., valued at approximately $292,000, during the first quarter.
• Multiple hedge funds have increased or established stakes in Synovus, with MetLife Investment Management LLC boosting its position by 393.8%, now owning 394,468 shares worth $18,437,000.
• Recent analyst ratings for Synovus Financial are mixed, with some downgrading their ratings while others, like JPMorgan Chase & Co., have raised their price targets and given it an "overweight" rating.

Eisler Capital Management Ltd. bought a new position in Synovus Financial Corp. (NYSE:SNV - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,250 shares of the bank's stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC purchased a new stake in Synovus Financial in the 4th quarter worth approximately $222,000. Cerity Partners LLC raised its position in shares of Synovus Financial by 50.9% during the 1st quarter. Cerity Partners LLC now owns 23,879 shares of the bank's stock valued at $1,116,000 after buying an additional 8,059 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Synovus Financial during the 1st quarter valued at $251,000. First Citizens Bank & Trust Co. raised its position in shares of Synovus Financial by 32.8% during the 1st quarter. First Citizens Bank & Trust Co. now owns 23,132 shares of the bank's stock valued at $1,081,000 after buying an additional 5,717 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in shares of Synovus Financial during the 1st quarter valued at $237,000. 83.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNV. JPMorgan Chase & Co. raised their price objective on shares of Synovus Financial from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Truist Financial raised their price objective on shares of Synovus Financial from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Raymond James Financial cut shares of Synovus Financial from a "moderate buy" rating to a "hold" rating in a research report on Monday, July 28th. Stephens lowered their price objective on shares of Synovus Financial from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Finally, DA Davidson raised their price objective on shares of Synovus Financial from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.94.

Synovus Financial Trading Up 1.3%

NYSE:SNV traded up $0.68 during trading hours on Friday, reaching $51.54. The company's stock had a trading volume of 2,319,127 shares, compared to its average volume of 1,811,852. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.87 and a beta of 1.22. The firm has a 50-day simple moving average of $51.46 and a 200-day simple moving average of $48.28. Synovus Financial Corp. has a 1 year low of $35.94 and a 1 year high of $61.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.92 and a current ratio of 0.92.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.23. The business had revenue of $592.08 million for the quarter, compared to analyst estimates of $584.89 million. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. During the same quarter last year, the firm earned $1.16 EPS. Synovus Financial has set its FY 2025 guidance at EPS. Research analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, June 19th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Synovus Financial's dividend payout ratio (DPR) is 29.94%.

Insider Activity at Synovus Financial

In related news, CFO Andrew J. Jr. Gregory bought 2,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $48.90 per share, with a total value of $97,800.00. Following the purchase, the chief financial officer owned 58,220 shares of the company's stock, valued at approximately $2,846,958. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diana M. Murphy bought 1,000 shares of the business's stock in a transaction dated 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 purchase, the director directly owned 40,171 shares in the company, valued at approximately $1,960,344.80. This represents a 2.55% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 8,040 shares of company stock worth $392,916. 1.00% of the stock is currently owned by company insiders.

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.