Synovus Financial Corp. $SNV Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Synovus Financial Corp. by 18.8%, owning 133,089 shares worth approximately $6.22 million as of the latest SEC filing.
• Analysts show mixed ratings on Synovus Financial, with an overall consensus rating of "Moderate Buy" and a price target averaging $59.94.
• CEO Kevin S. Blair and Director Diana M. Murphy both purchased additional shares of the company, signaling insider confidence amidst these developments.

Russell Investments Group Ltd. increased its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,089 shares of the bank's stock after buying an additional 21,045 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Synovus Financial worth $6,221,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC raised its position in shares of Synovus Financial by 554.4% during 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 period. Spectrum Wealth Counsel LLC purchased a new stake in shares of Synovus Financial during the 1st quarter valued at approximately $70,000. Quent Capital LLC raised its position in shares of Synovus Financial by 205.6% during the 1st 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 during the period. UMB Bank n.a. raised its position in shares of Synovus Financial by 142.3% during the 1st 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 during the period. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Synovus Financial during the 4th quarter valued at approximately $102,000. Hedge funds and other institutional investors own 83.85% of the company's stock.

Synovus Financial Stock Up 1.8%

Shares of NYSE:SNV traded up $0.89 during trading on Tuesday, hitting $51.68. The company's stock had a trading volume of 1,222,603 shares, compared to its average volume of 2,013,632. The business has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $48.41. The company has a market capitalization of $7.17 billion, a PE ratio of 9.92, a P/E/G ratio of 0.86 and a beta of 1.21. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.92 and a current ratio of 0.92. 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 posted its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 EPS for the quarter, topping the consensus estimate of $1.25 by $0.23. The business had revenue of $592.08 million during the quarter, compared to the consensus estimate of $584.89 million. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Synovus Financial has set its FY 2025 guidance at EPS. As a group, research analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

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

Wall Street Analyst Weigh In

SNV has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Synovus Financial from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Truist Financial lifted their price target on shares of Synovus Financial from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of Synovus Financial from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Raymond James Financial lowered Synovus Financial from a "moderate buy" rating to a "hold" rating in a research report on Monday, July 28th. Finally, Barclays cut their target price on Synovus Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, July 28th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Synovus Financial currently has a consensus rating of "Moderate Buy" and an average target price of $59.94.

Insider Buying and Selling at Synovus Financial

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

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.