Synovus Financial Corp. (NYSE:SNV) Stock Position Increased by Crestline Management LP

Crestline Management LP raised its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 95.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,672 shares of the bank's stock after purchasing an additional 18,393 shares during the period. Crestline Management LP's holdings in Synovus Financial were worth $1,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in Synovus Financial by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,964 shares of the bank's stock worth $1,069,000 after buying an additional 885 shares in the last quarter. Nordea Investment Management AB boosted its position in Synovus Financial by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 276,863 shares of the bank's stock worth $14,261,000 after acquiring an additional 10,109 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Synovus Financial by 2.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 14,800 shares of the bank's stock worth $758,000 after purchasing an additional 302 shares in the last quarter. Thomasville National Bank increased its holdings in shares of Synovus Financial by 5.6% during the fourth quarter. Thomasville National Bank now owns 20,231 shares of the bank's stock valued at $1,036,000 after purchasing an additional 1,066 shares during the period. Finally, Wedmont Private Capital raised its stake in shares of Synovus Financial by 3.3% during the fourth quarter. Wedmont Private Capital now owns 9,401 shares of the bank's stock valued at $479,000 after purchasing an additional 299 shares in the last quarter. Institutional investors own 83.85% of the company's stock.

Synovus Financial Stock Performance

Shares of NYSE SNV opened at $44.92 on Thursday. Synovus Financial Corp. has a one year low of $35.81 and a one year high of $59.92. The business's 50-day moving average price is $44.11 and its two-hundred day moving average price is $50.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $6.33 billion, a P/E ratio of 14.73, a price-to-earnings-growth 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 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.19. The firm had revenue of $573.24 million for the quarter, compared to the consensus estimate of $572.35 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. Analysts anticipate that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is currently 43.70%.

Wall Street Analyst Weigh In

SNV has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. DA Davidson lowered their price objective on shares of Synovus Financial from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Barclays dropped their target price on Synovus Financial from $66.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada decreased their price target on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Raymond James downgraded Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding SNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synovus Financial Corp. (NYSE:SNV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.