Bank of New York Mellon Corp Has $73.75 Million Holdings in Synovus Financial Corp. (NYSE:SNV)

Bank of New York Mellon Corp lifted its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,577,840 shares of the bank's stock after buying an additional 86,694 shares during the period. Bank of New York Mellon Corp owned approximately 1.12% of Synovus Financial worth $73,748,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Colonial Trust Co SC raised its position in shares of Synovus Financial by 554.4% during the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock worth $30,000 after purchasing an additional 499 shares during the period. Jones Financial Companies Lllp lifted its stake in Synovus Financial by 72.7% during the fourth 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 in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Synovus Financial in the fourth quarter worth about $59,000. Quent Capital LLC increased its position in shares of Synovus Financial by 205.6% in the first quarter. Quent Capital LLC now owns 1,797 shares of the bank's stock worth $84,000 after acquiring an additional 1,209 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Synovus Financial by 142.3% during the first quarter. UMB Bank n.a. now owns 1,810 shares of the bank's stock valued at $85,000 after acquiring an additional 1,063 shares during the period. Institutional investors and hedge funds own 83.85% of the company's stock.

Synovus Financial Stock Performance

Shares of Synovus Financial stock traded down $0.55 during trading on Friday, reaching $54.56. The company's stock had a trading volume of 1,835,950 shares, compared to its average volume of 1,363,915. Synovus Financial Corp. has a one year low of $35.94 and a one year high of $59.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.05 and a beta of 1.19. The business's fifty day moving average price is $49.30 and its 200-day moving average price is $49.12.

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 analysts' consensus estimates of $1.11 by $0.19. The company had revenue of $573.24 million during the quarter, compared to analyst estimates of $572.35 million. Synovus Financial had a return on equity of 15.87% and a net margin of 16.19%. As a group, equities research analysts predict that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Announces Dividend

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

Analysts Set New Price Targets

SNV has been the topic of several research analyst reports. Raymond James Financial cut Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. 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. Royal Bank Of Canada cut their target price on shares of Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. boosted 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. Finally, DA Davidson cut their price objective on Synovus Financial from $65.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 21st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Synovus Financial currently has an average rating of "Moderate Buy" and a consensus price target of $59.35.

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.