Elizabeth Park Capital Advisors Ltd. Purchases 22,508 Shares of Synovus Financial Corp. $SNV

Key Points

• Elizabeth Park Capital Advisors Ltd. increased its stake in Synovus Financial Corp. by 50.1%, acquiring an additional 22,508 shares, bringing their total ownership to 67,408 shares valued at approximately $3.15 million.
• Synovus Financial's stock has recently seen a 1.8% rise, with financial reports indicating a strong earnings-per-share of $1.48, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.39, representing an annual yield of 3.0% and a payout ratio of 29.94%.

Elizabeth Park Capital Advisors Ltd. increased its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,408 shares of the bank's stock after buying an additional 22,508 shares during the quarter. Synovus Financial comprises approximately 2.8% of Elizabeth Park Capital Advisors Ltd.'s holdings, making the stock its 13th largest position. Elizabeth Park Capital Advisors Ltd.'s holdings in Synovus Financial were worth $3,151,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SNV. Colonial Trust Co SC lifted its holdings in shares of Synovus Financial by 554.4% in the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock valued at $30,000 after buying an additional 499 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Synovus Financial during the first quarter valued at $47,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of Synovus Financial during the first quarter valued at $70,000. Brooklyn Investment Group lifted its holdings in shares of Synovus Financial by 39.1% during the first quarter. Brooklyn Investment Group now owns 1,561 shares of the bank's stock valued at $73,000 after purchasing an additional 439 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Synovus Financial by 33.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,626 shares of the bank's stock valued at $76,000 after purchasing an additional 406 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company's stock.

Synovus Financial Stock Up 1.3%

Shares of NYSE SNV traded up $0.68 during mid-day trading on Friday, reaching $51.54. 2,319,127 shares of the company traded hands, compared to its average volume of 1,865,714. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $7.15 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company's fifty day moving average is $51.46 and its two-hundred day moving average is $48.32. Synovus Financial Corp. has a fifty-two week low of $35.94 and a fifty-two week high of $61.06.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share 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 during the quarter, compared to the consensus estimate of $584.89 million. During the same quarter in the prior year, the company earned $1.16 EPS. Synovus Financial has set its FY 2025 guidance at EPS. On average, analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Dividend Announcement

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

Insiders Place Their Bets

In other Synovus Financial news, Director Gregory G. Montana bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $46.74 per share, for a total transaction of $46,740.00. Following the purchase, the director directly owned 4,341 shares in the company, valued at $202,898.34. This trade represents a 29.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew J. Jr. Gregory bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired 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 in the company, valued at $2,846,958. This trade represents a 3.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 8,040 shares of company stock worth $392,916 in the last 90 days. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

SNV has been the subject of several analyst reports. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $58.00 target price (down from $62.00) on shares of Synovus Financial in a report on Friday, July 25th. Stephens reduced their target price on Synovus Financial from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Barclays reduced their price objective on Synovus Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, July 28th. DA Davidson increased their price objective on Synovus Financial from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their target price on Synovus Financial from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.94.

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.