Synovus Financial Corp. (NYSE:SNV) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. trimmed its stake in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 56.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,469 shares of the bank's stock after selling 5,766 shares during the quarter. Jamison Private Wealth Management Inc.'s holdings in Synovus Financial were worth $209,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Tidal Investments LLC acquired a new stake in shares of Synovus Financial in the 4th quarter valued at $222,000. First Citizens Bank & Trust Co. increased its holdings in Synovus Financial by 32.8% in the first 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 during the last quarter. Proficio Capital Partners LLC acquired a new stake in Synovus Financial in the fourth quarter valued at $3,798,000. Northern Trust Corp raised its position in shares of 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 acquiring an additional 337,784 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Synovus Financial during the fourth quarter worth approximately $1,504,000. Hedge funds and other institutional investors own 83.85% of the company's stock.

Synovus Financial Stock Performance

Shares of Synovus Financial stock traded down $0.12 during trading hours on Wednesday, hitting $50.22. 579,023 shares of the company were exchanged, compared to its average volume of 1,383,181. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $46.58 and a 200-day moving average of $49.05. Synovus Financial Corp. has a 1 year low of $35.94 and a 1 year high of $59.92. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 0.97 and a beta of 1.18.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.19. Synovus Financial had a net margin of 16.19% and a return on equity of 15.87%. The company had revenue of $573.24 million for the quarter, compared to analysts' expectations of $572.35 million. As a group, analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 19th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.56 dividend on an annualized basis and a yield of 3.11%. Synovus Financial's payout ratio is currently 43.70%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SNV shares. DA Davidson dropped their price target on shares of Synovus Financial from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped their target price 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. Barclays reduced their price target on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group assumed coverage on Synovus Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $55.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.