GTS Securities LLC Has $455,000 Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

GTS Securities LLC reduced its holdings in Synovus Financial Corp. (NYSE:SNV - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,888 shares of the bank's stock after selling 11,012 shares during the quarter. GTS Securities LLC's holdings in Synovus Financial were worth $455,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SNV. Norges Bank acquired a new stake in shares of Synovus Financial in the 4th quarter worth about $77,209,000. AQR Capital Management LLC grew its stake in shares of 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 last quarter. FMR LLC grew its stake in shares of Synovus Financial by 3.6% in the 4th quarter. FMR LLC now owns 12,041,625 shares of the bank's stock worth $616,892,000 after purchasing an additional 415,201 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Synovus Financial by 349.4% in the fourth quarter. Prudential Financial Inc. now owns 529,147 shares of the bank's stock worth $27,108,000 after buying an additional 411,411 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Synovus Financial by 5,495.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 349,866 shares of the bank's stock valued at $17,924,000 after purchasing an additional 343,613 shares during the period. 83.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNV. Wells Fargo & Company reduced their price target on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on shares of Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Jefferies Financial Group started coverage on Synovus Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $55.00 price target on the stock. Stephens lowered their target price on shares of Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Synovus Financial from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Synovus Financial presently has an average rating of "Moderate Buy" and an average price target of $56.56.

Synovus Financial Stock Down 0.4%

Shares of SNV traded down $0.19 during mid-day trading on Friday, hitting $47.88. 1,114,704 shares of the company's stock were exchanged, compared to its average volume of 1,400,774. The company has a market cap of $6.66 billion, a PE ratio of 15.70, a P/E/G ratio of 1.11 and a beta of 1.13. Synovus Financial Corp. has a 52 week low of $35.81 and a 52 week high of $59.92. The company has a 50-day simple moving average of $44.54 and a 200 day simple moving average of $50.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88.

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

Synovus Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This is a boost from Synovus Financial's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.26%. Synovus Financial's dividend payout ratio (DPR) is currently 43.70%.

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.