Amundi Has $4.69 Million Stake in Synovus Financial Corp. $SNV

Key Points

• Amundi significantly increased its stake in Synovus Financial Corp. by 78,349.2%, acquiring an additional 100,287 shares, bringing its total ownership to about 0.07% of the company, worth approximately $4.69 million.
• Several analysts have adjusted their ratings and price targets for Synovus Financial, with Keefe, Bruyette & Woods reducing its target from $65.00 to $50.00, while DA Davidson increased it from $60.00 to $63.00.
• Synovus Financial recently announced a quarterly dividend of $0.39, which represents an annualized yield of 3.0%, with a payout ratio of 29.94%.

Amundi grew its holdings in Synovus Financial Corp. (NYSE:SNV - Free Report) by 78,349.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,415 shares of the bank's stock after acquiring an additional 100,287 shares during the quarter. Amundi owned 0.07% of Synovus Financial worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Synovus Financial during the 1st quarter valued at $47,000. Spectrum Wealth Counsel LLC bought a new position in shares of Synovus Financial during the 1st quarter worth about $70,000. Brooklyn Investment Group raised its position in shares of Synovus Financial by 39.1% during the first quarter. Brooklyn Investment Group now owns 1,561 shares of the bank's stock valued at $73,000 after buying an additional 439 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Synovus Financial by 33.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,626 shares of the bank's stock valued at $76,000 after buying an additional 406 shares during the last quarter. Finally, Quent Capital LLC lifted its stake 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 valued at $84,000 after buying an additional 1,209 shares during the period. Institutional investors own 83.85% of the company's stock.

Synovus Financial Price Performance

Shares of Synovus Financial stock traded down $0.07 during trading on Tuesday, reaching $50.57. The company's stock had a trading volume of 1,775,678 shares, compared to its average volume of 1,610,430. The stock has a 50-day moving average price of $51.13 and a two-hundred day moving average price of $48.17. The stock has a market capitalization of $7.02 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.77. Synovus Financial Corp. has a one year low of $35.94 and a one year high of $61.06.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The bank reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.23. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. The firm had revenue of $592.08 million for the quarter, compared to analyst estimates of $584.89 million. During the same quarter in the prior year, the firm earned $1.16 EPS. Synovus Financial has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 18th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.1%. Synovus Financial's dividend payout ratio (DPR) is currently 29.94%.

Wall Street Analyst Weigh In

SNV has been the subject of several recent research reports. Stephens cut their price target on Synovus Financial from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Morgan Stanley upped their target price on Synovus Financial from $58.00 to $61.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. DA Davidson lifted their price target on shares of Synovus Financial from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Truist Financial increased their price objective on shares of Synovus Financial from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Jefferies Financial Group initiated coverage on shares of Synovus Financial in a report on Wednesday, May 21st. They set a "hold" rating and a $55.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.83.

Insider Activity at Synovus Financial

In other news, CFO Andrew J. Jr. Gregory bought 2,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diana M. Murphy bought 1,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $48.80 per share, with a total value of $48,800.00. Following the transaction, the director owned 40,171 shares of the company's stock, valued at $1,960,344.80. The trade was a 2.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 8,040 shares of company stock worth $392,916. Company insiders own 1.00% of the company's stock.

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.