Hsbc Holdings PLC Purchases 16,838 Shares of Synovus Financial Corp. (NYSE:SNV)

Hsbc Holdings PLC boosted its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 68.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,393 shares of the bank's stock after buying an additional 16,838 shares during the quarter. Hsbc Holdings PLC's holdings in Synovus Financial were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SNV. Montgomery Investment Management Inc. raised its stake in Synovus Financial by 0.6% in the 4th 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 period. Sound View Wealth Advisors Group LLC raised its position in shares of Synovus Financial by 3.1% in the fourth 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 period. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Synovus Financial by 0.3% in the fourth 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 period. Wedmont Private Capital lifted its stake in shares of Synovus Financial by 3.3% during the 4th quarter. Wedmont Private Capital now owns 9,401 shares of the bank's stock valued at $479,000 after buying an additional 299 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Synovus Financial by 2.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,800 shares of the bank's stock worth $758,000 after buying an additional 302 shares during the period. 83.85% of the stock is currently owned by institutional investors.

Synovus Financial Trading Down 0.2 %

Shares of Synovus Financial stock traded down $0.11 on Tuesday, hitting $45.13. The stock had a trading volume of 88,279 shares, compared to its average volume of 1,406,285. 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 one year low of $35.81 and a one year high of $59.92. The stock's 50-day simple moving average is $44.38 and its two-hundred day simple moving average is $50.56. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.11 and a beta of 1.13.

Synovus Financial (NYSE:SNV - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.19. The firm had revenue of $573.24 million for the quarter, compared to analysts' expectations of $572.35 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. As a group, sell-side analysts predict that Synovus Financial Corp. will post 4.89 EPS for the current year.

Synovus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were given a dividend of $0.39 per share. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, March 20th. Synovus Financial's payout ratio is presently 43.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNV. DA Davidson dropped their target price on Synovus Financial from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Raymond James cut Synovus Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Stephens cut their target price on Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Morgan Stanley lowered their price target on shares of Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, Barclays decreased their target price on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Synovus Financial currently has a consensus rating of "Moderate Buy" and an average target price of $56.17.

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.