Synovus Financial Corp. (NYSE:SNV) Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC boosted its stake in Synovus Financial Corp. (NYSE:SNV - Free Report) by 43.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,957 shares of the bank's stock after buying an additional 13,598 shares during the quarter. Waverly Advisors LLC's holdings in Synovus Financial were worth $2,303,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Montgomery Investment Management Inc. raised its holdings in shares of Synovus Financial by 0.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 42,493 shares of the bank's stock valued at $2,177,000 after acquiring an additional 235 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its stake in Synovus Financial by 3.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 7,941 shares of the bank's stock valued at $407,000 after purchasing an additional 241 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Synovus Financial by 0.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 103,480 shares of the bank's stock valued at $5,301,000 after purchasing an additional 270 shares during the last quarter. Savant Capital LLC lifted its holdings in Synovus Financial by 2.7% in the 4th quarter. Savant Capital LLC now owns 11,923 shares of the bank's stock valued at $611,000 after purchasing an additional 314 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Synovus Financial by 4.8% during the 4th quarter. M&T Bank Corp now owns 7,265 shares of the bank's stock worth $372,000 after purchasing an additional 331 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SNV. Wells Fargo & Company decreased their price target on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Stephens lowered their target price on Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Royal Bank of Canada reduced their price objective on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Truist Financial assumed coverage on Synovus Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $56.00 target price for the company. Finally, DA Davidson dropped their price objective on shares of Synovus Financial from $65.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synovus Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.56.

Synovus Financial Trading Down 1.1%

NYSE:SNV traded down $0.52 on Wednesday, reaching $47.63. 156,653 shares of the company's stock were exchanged, compared to its average volume of 1,399,919. The business has a fifty day moving average of $44.56 and a 200-day moving average of $50.21. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial Corp. has a 52-week low of $35.81 and a 52-week high of $59.92. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13.

Synovus Financial (NYSE:SNV - Get Free Report) last posted 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. The business had revenue of $573.24 million during the quarter, compared to the consensus estimate of $572.35 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. As a group, analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is currently 43.70%.

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.