LSV Asset Management Has $21.21 Million Stake in Synovus Financial Corp. (NYSE:SNV)

LSV Asset Management lowered its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 563,437 shares of the bank's stock after selling 44,900 shares during the quarter. LSV Asset Management owned about 0.39% of Synovus Financial worth $21,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Synovus Financial during the 3rd quarter worth about $214,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Synovus Financial by 11.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,867 shares of the bank's stock valued at $636,000 after acquiring an additional 2,305 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Synovus Financial by 6.4% in the 3rd quarter. Brown Advisory Inc. now owns 11,443 shares of the bank's stock worth $318,000 after acquiring an additional 685 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Synovus Financial by 8.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,986 shares of the bank's stock worth $250,000 after purchasing an additional 703 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Synovus Financial by 17.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,974 shares of the bank's stock valued at $778,000 after purchasing an additional 4,088 shares during the period. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Price Performance

Shares of NYSE:SNV traded down $0.31 during trading on Tuesday, hitting $38.39. 2,041,597 shares of the stock were exchanged, compared to its average volume of 1,491,102. The company has a fifty day moving average price of $37.93 and a two-hundred day moving average price of $35.39. The company has a market cap of $5.62 billion, a PE ratio of 13.32, a P/E/G ratio of 4.41 and a beta of 1.41. Synovus Financial Corp. has a 12-month low of $24.40 and a 12-month high of $40.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.20). The firm had revenue of $537.73 million during the quarter, compared to analysts' expectations of $547.62 million. Synovus Financial had a net margin of 13.29% and a return on equity of 12.93%. The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. On average, analysts forecast that Synovus Financial Corp. will post 3.76 EPS for the current year.

Synovus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Wednesday, March 20th. Synovus Financial's dividend payout ratio (DPR) is presently 52.05%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SNV shares. Stephens restated an "equal weight" rating and set a $38.00 price target on shares of Synovus Financial in a research report on Tuesday. Raymond James cut shares of Synovus Financial from a "strong-buy" rating to a "market perform" rating in a research report on Thursday, April 18th. Truist Financial dropped their price objective on Synovus Financial from $45.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Bank of America cut their price objective on shares of Synovus Financial from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, April 19th. Finally, Royal Bank of Canada reduced their target price on Synovus Financial from $44.00 to $41.00 and set an "outperform" rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $41.50.

About Synovus Financial

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.