Nomura Holdings Inc. Makes New Investment in Synovus Financial Corp. (NYSE:SNV)

Nomura Holdings Inc. purchased a new position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,797 shares of the bank's stock, valued at approximately $963,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNV. Colonial Trust Co SC raised its position in Synovus Financial by 554.4% in the 4th 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 last quarter. Keystone Financial Group Inc. purchased a new stake in Synovus Financial in the 4th quarter valued at $37,000. Jones Financial Companies Lllp raised its position in Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock valued at $56,000 after buying an additional 461 shares during the last quarter. V Square Quantitative Management LLC raised its position in Synovus Financial by 69.3% in the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock valued at $58,000 after buying an additional 466 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Synovus Financial in the 4th quarter valued at $59,000. 83.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNV. Royal Bank of Canada lowered their price target on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group initiated coverage on Synovus Financial in a research report on Wednesday. They set a "hold" rating and a $55.00 target price for the company. Wells Fargo & Company decreased their target price on 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. Stephens decreased their target price on Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Morgan Stanley decreased their target price on Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.56.

Synovus Financial Price Performance

SNV stock traded down $0.24 during mid-day trading on Friday, reaching $47.02. 1,122,058 shares of the company traded hands, compared to its average volume of 1,407,577. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $6.54 billion, a P/E ratio of 15.42, 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 fifty day moving average price of $44.56 and a 200-day moving average price of $50.30.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) 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 business had revenue of $573.24 million for the quarter, compared to analysts' expectations of $572.35 million. As a group, analysts anticipate that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is 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.