1,256 Shares in Synovus Financial Corp. (NYSE:SNV) Bought by Arlington Trust Co LLC

Arlington Trust Co LLC acquired a new position in shares of Synovus Financial Corp. (NYSE:SNV) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,256 shares of the bank’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Trust increased its position in shares of Synovus Financial by 2.9% during the fourth quarter. American Trust now owns 9,208 shares of the bank’s stock valued at $346,000 after acquiring an additional 258 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Synovus Financial by 64.8% in the fourth quarter. Lazard Asset Management LLC now owns 809 shares of the bank’s stock worth $30,000 after acquiring an additional 318 shares during the period. Mariner LLC boosted its holdings in shares of Synovus Financial by 3.4% in the third quarter. Mariner LLC now owns 12,349 shares of the bank’s stock worth $343,000 after acquiring an additional 407 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Synovus Financial by 3.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,612 shares of the bank’s stock worth $378,000 after acquiring an additional 419 shares during the period. Finally, PFW Advisors LLC boosted its holdings in shares of Synovus Financial by 5.4% in the fourth quarter. PFW Advisors LLC now owns 8,433 shares of the bank’s stock worth $318,000 after acquiring an additional 433 shares during the period. 83.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNV. StockNews.com lowered Synovus Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods lifted their price objective on Synovus Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. DA Davidson reiterated a “buy” rating on shares of Synovus Financial in a report on Monday, January 15th. Barclays began coverage on Synovus Financial in a report on Friday, March 8th. They set an “equal weight” rating and a $42.00 price target on the stock. Finally, Raymond James upgraded Synovus Financial from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $34.00 to $45.00 in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Synovus Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.06.

Synovus Financial Stock Performance

Shares of SNV opened at $38.25 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $37.87 and its 200-day moving average price is $33.96. Synovus Financial Corp. has a 52 week low of $24.40 and a 52 week high of $40.92. The stock has a market cap of $5.60 billion, a P/E ratio of 11.05 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Wednesday, January 17th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.14). The company 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%. Equities research analysts anticipate that Synovus Financial Corp. will post 4.02 earnings per share for the current fiscal year.

Synovus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.52 annualized dividend and a yield of 3.97%. Synovus Financial’s dividend payout ratio (DPR) is presently 43.93%.

Insider Activity at Synovus Financial

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

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.