Synovus Financial Corp. (NYSE:SNV) Holdings Cut by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 62.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,714 shares of the bank's stock after selling 28,164 shares during the quarter. SG Americas Securities LLC's holdings in Synovus Financial were worth $629,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Asio Capital LLC raised its stake in Synovus Financial by 0.7% during the 4th quarter. Asio Capital LLC now owns 125,699 shares of the bank's stock valued at $4,780,000 after purchasing an additional 834 shares during the last quarter. Vest Financial LLC acquired a new position in Synovus Financial during the 4th quarter valued at $226,000. Wedmont Private Capital raised its stake in Synovus Financial by 5.1% during the 4th quarter. Wedmont Private Capital now owns 11,093 shares of the bank's stock valued at $413,000 after purchasing an additional 535 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in Synovus Financial during the 4th quarter valued at $365,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Synovus Financial in the 4th quarter valued at $241,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Thomas T. Dierdorff sold 2,045 shares of Synovus Financial stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the sale, the executive vice president now directly owns 11,086 shares in the company, valued at $423,817.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thomas T. Dierdorff sold 2,045 shares of Synovus Financial stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the sale, the executive vice president now directly owns 11,086 shares in the company, valued at $423,817.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tim E. Bentsen sold 4,671 shares of the firm's stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $38.62, for a total transaction of $180,394.02. Following the completion of the transaction, the director now directly owns 33,144 shares of the company's stock, valued at $1,280,021.28. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNV has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Synovus Financial from $29.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. UBS Group increased their price objective on shares of Synovus Financial from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, January 23rd. Raymond James upgraded shares of Synovus Financial from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $34.00 to $45.00 in a research report on Friday, January 5th. DA Davidson reiterated a "buy" rating on shares of Synovus Financial in a research report on Monday, January 15th. Finally, Barclays assumed coverage on shares of Synovus Financial in a research report on Friday, March 8th. They set an "equal weight" rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Synovus Financial currently has an average rating of "Moderate Buy" and a consensus target price of $40.06.

Synovus Financial Price Performance

NYSE:SNV traded down $0.08 during mid-day trading on Thursday, reaching $37.92. 1,421,661 shares of the company were exchanged, compared to its average volume of 1,464,222. The stock has a market cap of $5.55 billion, a PE ratio of 10.96 and a beta of 1.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.42. Synovus Financial Corp. has a 12 month low of $24.40 and a 12 month high of $40.92. The company has a fifty day moving average of $37.88 and a 200 day moving average of $33.83.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its earnings results on Wednesday, January 17th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.14). The business had revenue of $488.68 million during the quarter, compared to the consensus estimate of $527.60 million. Synovus Financial had a net margin of 15.74% and a return on equity of 14.95%. On average, research analysts anticipate that Synovus Financial Corp. will post 4.03 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Wednesday, March 20th. Synovus Financial's payout ratio is 43.93%.

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.