Stephens Inc. AR Takes Position in Synovus Financial Corp. (NYSE:SNV)

Stephens Inc. AR purchased a new stake in Synovus Financial Corp. (NYSE:SNV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,642 shares of the bank's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of Synovus Financial in the fourth quarter valued at about $222,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Synovus Financial in the first quarter valued at about $251,000. First Citizens Bank & Trust Co. increased its position in shares of 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 acquiring an additional 5,717 shares during the last quarter. Tradewinds LLC. acquired a new stake in shares of Synovus Financial in the first quarter valued at about $351,000. Finally, KBC Group NV increased its position in shares of Synovus Financial by 265.2% in the first quarter. KBC Group NV now owns 21,966 shares of the bank's stock valued at $1,027,000 after acquiring an additional 15,952 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company's stock.

Synovus Financial Price Performance

Shares of NYSE:SNV opened at $55.70 on Friday. The company has a market capitalization of $7.74 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.92 and a quick ratio of 0.88. Synovus Financial Corp. has a 1-year low of $35.94 and a 1-year high of $59.92. The firm's 50 day simple moving average is $50.33 and its two-hundred day simple moving average is $49.22.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.23. The company had revenue of $592.08 million for the quarter, compared to analysts' expectations 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 business posted $1.16 earnings per share. Research analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Synovus Financial from $58.00 to $61.00 and gave the company an "equal weight" rating in a research note on Friday. Wells Fargo & Company upgraded shares of Synovus Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $50.00 to $62.00 in a research note on Thursday, July 10th. Keefe, Bruyette & Woods upgraded shares of Synovus Financial from a "market perform" rating to an "outperform" rating and raised their target price for the company from $58.00 to $65.00 in a research note on Friday. DA Davidson increased their price target on shares of Synovus Financial from $60.00 to $63.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of Synovus Financial from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.67.

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.

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