Synovus Financial Corp. (NYSE:SNV) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. trimmed its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 66.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,805 shares of the bank's stock after selling 74,556 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Synovus Financial were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Synovus Financial by 333.5% in the fourth quarter. Allworth Financial LP now owns 724 shares of the bank's stock worth $27,000 after buying an additional 557 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Synovus Financial during the 4th quarter worth $28,000. Lazard Asset Management LLC grew its position in shares of Synovus Financial by 64.8% during the 4th quarter. Lazard Asset Management LLC now owns 809 shares of the bank's stock valued at $30,000 after acquiring an additional 318 shares during the period. First Command Advisory Services Inc. purchased a new stake in shares of Synovus Financial in the 3rd quarter worth $33,000. Finally, Belpointe Asset Management LLC raised its holdings in Synovus Financial by 138.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,095 shares of the bank's stock worth $34,000 after purchasing an additional 635 shares during the period. 83.85% of the stock is owned by institutional investors.

Synovus Financial Price Performance

Shares of NYSE:SNV traded down $0.35 during mid-day trading on Friday, reaching $36.83. The stock had a trading volume of 977,558 shares, compared to its average volume of 1,284,446. The business's 50 day moving average price is $37.88 and its 200 day moving average price is $34.27. Synovus Financial Corp. has a 1 year low of $24.40 and a 1 year high of $40.92. The company has a market cap of $5.39 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 4.00 and a beta of 1.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.42.

Synovus Financial (NYSE:SNV - Get Free Report) last released its quarterly earnings data on Wednesday, January 17th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.94 by ($0.14). The firm had revenue of $488.68 million during the quarter, compared to the consensus estimate of $527.60 million. Synovus Financial had a return on equity of 14.95% and a net margin of 15.74%. Research analysts expect that Synovus Financial Corp. will post 4.04 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.13%. Synovus Financial's payout ratio is currently 43.93%.

Insider Transactions at Synovus Financial

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

Analyst Ratings Changes

Several research firms have issued reports on SNV. Evercore ISI boosted their price target on Synovus Financial from $40.00 to $42.00 and gave the company an "in-line" rating in a report on Thursday, March 28th. DA Davidson reissued a "buy" rating on shares of Synovus Financial in a report on Monday, January 15th. Royal Bank of Canada lifted their price target on shares of Synovus Financial from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday. The Goldman Sachs Group increased their price objective on shares of Synovus Financial from $33.00 to $37.00 and gave the stock a "neutral" rating in a research note on Monday, December 18th. Finally, UBS Group raised their price objective on shares of Synovus Financial from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.50.

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.