Cwm LLC Purchases 518 Shares of Synovus Financial Corp. (NYSE:SNV)

Cwm LLC raised its position in shares of Synovus Financial Corp. (NYSE:SNVGet Rating) by 93.7% during the third quarter, HoldingsChannel reports. The fund owned 1,071 shares of the bank’s stock after acquiring an additional 518 shares during the quarter. Cwm LLC’s holdings in Synovus Financial were worth $40,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Amundi purchased a new stake in shares of Synovus Financial during the second quarter valued at $25,000. Private Capital Group LLC boosted its stake in shares of Synovus Financial by 957.4% during the second quarter. Private Capital Group LLC now owns 719 shares of the bank’s stock valued at $26,000 after purchasing an additional 651 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Synovus Financial during the first quarter valued at $30,000. Neo Ivy Capital Management purchased a new stake in shares of Synovus Financial during the second quarter valued at $48,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Synovus Financial by 38.0% during the second quarter. Quadrant Capital Group LLC now owns 1,474 shares of the bank’s stock valued at $53,000 after purchasing an additional 406 shares during the period. Institutional investors own 79.89% of the company’s stock.

Insider Activity

In other news, EVP Allan E. Kamensky sold 663 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $43.80, for a total transaction of $29,039.40. Following the transaction, the executive vice president now owns 5,090 shares in the company, valued at $222,942. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.55% of the company’s stock.

Synovus Financial Stock Performance

SNV stock opened at $39.38 on Friday. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 6.16 and a beta of 1.35. The firm has a 50-day simple moving average of $39.20 and a two-hundred day simple moving average of $39.57. Synovus Financial Corp. has a one year low of $34.15 and a one year high of $54.40. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.92 and a current ratio of 0.93.

Synovus Financial (NYSE:SNVGet Rating) last released its quarterly earnings results on Thursday, October 20th. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.28 by $0.06. The business had revenue of $582.22 million during the quarter, compared to analyst estimates of $570.52 million. Synovus Financial had a net margin of 33.25% and a return on equity of 17.83%. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, equities analysts forecast that Synovus Financial Corp. will post 4.95 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.45%. Synovus Financial’s dividend payout ratio (DPR) is currently 27.70%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James boosted their target price on shares of Synovus Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada lowered their price objective on shares of Synovus Financial from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Wells Fargo & Company lowered their price objective on shares of Synovus Financial from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 21st. TheStreet raised shares of Synovus Financial from a “c+” rating to a “b” rating in a research note on Friday, November 4th. Finally, DA Davidson upped their price objective on shares of Synovus Financial from $42.50 to $45.50 in a research note on Friday, December 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.40.

Synovus Financial Company Profile

(Get Rating)

Synovus Financial Corp. is a bank holding company, which engages in the provision of financial services. The company operates through the following segments: Community Banking, Wholesale Banking, and Financial Management Services (FMS). The Community Banking business segment serves customers using a relationship-based approach through its branch, ATM, commercial, and private wealth network in addition to mobile, Internet, and telephone banking.

See Also

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:SNVGet Rating).

Institutional Ownership by Quarter for Synovus Financial (NYSE:SNV)

Receive News & Ratings for Synovus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial and related companies with MarketBeat.com's FREE daily email newsletter.