Crestline Management LP Boosts Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

Crestline Management LP increased its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 95.4% in the fourth quarter, according to its most recent Form 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 quarter. Crestline Management LP's holdings in Synovus Financial were worth $1,930,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SNV. Keystone Financial Group Inc. purchased a new stake in Synovus Financial in the fourth quarter valued at $37,000. Jones Financial Companies Lllp grew its stake in Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock valued at $56,000 after acquiring an additional 461 shares during the period. V Square Quantitative Management LLC raised its position in shares of Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock worth $58,000 after purchasing an additional 466 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Synovus Financial during the fourth quarter valued at approximately $59,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Synovus Financial by 36.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the bank's stock valued at $91,000 after acquiring an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company's stock.

Synovus Financial Trading Up 0.4%

Shares of SNV traded up $0.20 during trading on Tuesday, reaching $49.55. 302,006 shares of the company traded hands, compared to its average volume of 1,401,153. The stock has a 50-day simple moving average of $43.99 and a 200-day simple moving average of $50.47. The stock has a market cap of $6.89 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. Synovus Financial Corp. has a twelve month low of $35.81 and a twelve month high of $59.92. 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 (NYSE:SNV - Get Free Report) last announced its earnings results 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. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million for the quarter, compared to analyst estimates of $572.35 million. On average, analysts anticipate that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were paid a dividend of $0.39 per share. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 annualized dividend and a yield of 3.15%. Synovus Financial's dividend payout ratio is presently 43.70%.

Analysts Set New Price Targets

Several research firms recently commented on SNV. JPMorgan Chase & Co. reduced their price objective on Synovus Financial from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Citigroup increased their target price on shares of Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Royal Bank of Canada lowered their price target on shares of Synovus Financial from $64.00 to $52.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Stephens dropped their price objective on shares of 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. Finally, Barclays lowered 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. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Synovus Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.11.

Synovus Financial 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.