Synovus Financial Corp. (NYSE:SNV) Shares Bought by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. increased its stake in Synovus Financial Corp. (NYSE:SNV - Free Report) by 24.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,542 shares of the bank's stock after purchasing an additional 58,500 shares during the quarter. Synovus Financial accounts for 2.7% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 13th largest position. Stieven Capital Advisors L.P. owned approximately 0.21% of Synovus Financial worth $13,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. State of Michigan Retirement System grew its stake in Synovus Financial by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 33,804 shares of the bank's stock valued at $1,580,000 after acquiring an additional 300 shares during the last quarter. Cerity Partners LLC grew its stake in Synovus Financial by 50.9% in the 1st quarter. Cerity Partners LLC now owns 23,879 shares of the bank's stock valued at $1,116,000 after acquiring an additional 8,059 shares during the last quarter. Correct Capital Wealth Management grew its stake in Synovus Financial by 2.7% in the 1st quarter. Correct Capital Wealth Management now owns 27,864 shares of the bank's stock valued at $1,302,000 after acquiring an additional 725 shares during the last quarter. Greenleaf Trust grew its stake in Synovus Financial by 5.2% in the 1st quarter. Greenleaf Trust now owns 6,425 shares of the bank's stock valued at $300,000 after acquiring an additional 318 shares during the last quarter. Finally, M&T Bank Corp grew its stake in Synovus Financial by 7.1% in the 1st quarter. M&T Bank Corp now owns 7,782 shares of the bank's stock valued at $364,000 after acquiring an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company's stock.

Synovus Financial Trading Down 1.0%

SNV stock traded down $0.55 on Friday, hitting $54.56. 1,835,950 shares of the company were exchanged, compared to its average volume of 1,363,915. Synovus Financial Corp. has a twelve month low of $35.94 and a twelve month high of $59.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.88. The business's fifty day moving average is $49.48 and its two-hundred day moving average is $49.15. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.06 and a beta of 1.19.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 EPS for the quarter, topping 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 firm had revenue of $573.24 million during the quarter, compared to analyst estimates of $572.35 million. As a group, research analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 19th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, June 18th. Synovus Financial's dividend payout ratio (DPR) is 43.70%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SNV shares. JPMorgan Chase & Co. increased their price objective on shares of Synovus Financial from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Raymond James Financial cut shares of Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Stephens lowered their price objective on shares of Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Truist Financial lifted their price target on shares of Synovus Financial from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Friday. Finally, Barclays boosted their price objective on shares of Synovus Financial from $60.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synovus Financial presently has a consensus rating of "Moderate Buy" and an average target price of $59.35.

About Synovus Financial

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.