Universal Beteiligungs und Servicegesellschaft mbH Has $6.21 Million Stake in Synovus Financial Corp. (NYSE:SNV)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Synovus Financial Corp. by 12.7%, holding 132,940 shares valued at $6.21 million after the sale.
• Several analysts have recently rated Synovus Financial as a "Moderate Buy," with a consensus price target of $60.44.
• Synovus Financial will pay a quarterly dividend of $0.39 per share, representing an annualized yield of 3.14% and a payout ratio of 29.94%.

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,940 shares of the bank's stock after selling 19,293 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Synovus Financial worth $6,214,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in Synovus Financial during the fourth quarter worth about $222,000. Cerity Partners LLC grew its holdings in shares of Synovus Financial by 50.9% during the first quarter. Cerity Partners LLC now owns 23,879 shares of the bank's stock worth $1,116,000 after purchasing an additional 8,059 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Synovus Financial during the first quarter worth about $251,000. First Citizens Bank & Trust Co. grew its holdings in shares of Synovus Financial by 32.8% during the first quarter. First Citizens Bank & Trust Co. now owns 23,132 shares of the bank's stock worth $1,081,000 after purchasing an additional 5,717 shares during the last quarter. Finally, Tradewinds LLC. bought a new stake in shares of Synovus Financial during the first quarter worth about $351,000. Institutional investors and hedge funds own 83.85% of the company's stock.

Wall Street Analysts Forecast Growth

SNV has been the topic of several research reports. Keefe, Bruyette & Woods upgraded Synovus Financial from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $58.00 to $65.00 in a report on Friday, July 18th. Raymond James Financial upgraded Synovus Financial from a "market perform" rating to an "outperform" rating and set a $62.00 price target on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on Synovus Financial from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Jefferies Financial Group initiated coverage on Synovus Financial in a report on Wednesday, May 21st. They set a "hold" rating and a $55.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Synovus Financial from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.44.

Synovus Financial Price Performance

Synovus Financial stock opened at $49.64 on Friday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.84 and a beta of 1.19. Synovus Financial Corp. has a 52-week low of $35.94 and a 52-week high of $61.06. The stock's 50 day moving average price is $50.97 and its two-hundred day moving average price is $49.35. 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 (NYSE:SNV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.23. The firm had revenue of $592.08 million for the quarter, compared to analysts' expectations of $584.89 million. Synovus Financial had a return on equity of 16.20% and a net margin of 21.52%. During the same period in the prior year, the business earned $1.16 EPS. On average, equities analysts predict that Synovus Financial Corp. will post 4.89 earnings per share for the current 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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Wednesday, June 18th. Synovus Financial's payout ratio is 29.94%.

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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