Jackson Creek Investment Advisors LLC Invests $237,000 in Synovus Financial Corp. (NYSE:SNV)

Jackson Creek Investment Advisors LLC acquired a new stake in Synovus Financial Corp. (NYSE:SNV - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,080 shares of the bank's stock, valued at approximately $237,000.

Other hedge funds have also modified their holdings of the company. Colonial Trust Co SC raised its stake in 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 in the last quarter. Millstone Evans Group LLC acquired a new stake in Synovus Financial in the fourth quarter valued at $59,000. Quent Capital LLC raised its stake in Synovus Financial by 205.6% in the first quarter. Quent Capital LLC now owns 1,797 shares of the bank's stock valued at $84,000 after buying an additional 1,209 shares in the last quarter. UMB Bank n.a. raised its stake in Synovus Financial by 142.3% in the first quarter. UMB Bank n.a. now owns 1,810 shares of the bank's stock valued at $85,000 after buying an additional 1,063 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Synovus Financial in the fourth quarter valued at $102,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Stock Performance

Shares of SNV traded up $1.85 during mid-day trading on Friday, reaching $55.70. 2,873,439 shares of the company's stock traded hands, compared to its average volume of 1,359,362. Synovus Financial Corp. has a 12 month low of $35.94 and a 12 month high of $59.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market capitalization of $7.74 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.06 and a beta of 1.19. The business's 50-day moving average price is $50.33 and its 200-day moving average price is $49.22.

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

Synovus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, June 19th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Wednesday, June 18th. Synovus Financial's dividend payout ratio (DPR) is currently 29.94%.

Analyst Ratings Changes

A number of analysts have recently commented on SNV shares. Truist Financial lifted their target price on Synovus Financial from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. 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. Wells Fargo & Company upgraded Synovus Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $50.00 to $62.00 in a research report on Thursday, July 10th. Barclays lifted their target price on Synovus Financial from $60.00 to $67.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, DA Davidson raised their price target on Synovus Financial from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.67.

Synovus Financial Company 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.