UMB Bank n.a. Has $85,000 Stock Position in Synovus Financial Corp. (NYSE:SNV)

UMB Bank n.a. lifted its position in Synovus Financial Corp. (NYSE:SNV) by 142.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,810 shares of the bank’s stock after buying an additional 1,063 shares during the quarter. UMB Bank n.a.’s holdings in Synovus Financial were worth $85,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tidal Investments LLC acquired a new position in Synovus Financial in the 4th quarter worth approximately $222,000. Proficio Capital Partners LLC purchased a new stake in shares of Synovus Financial in the fourth quarter valued at $3,798,000. Northern Trust Corp boosted its position in shares of Synovus Financial by 32.4% in the fourth quarter. Northern Trust Corp now owns 1,380,098 shares of the bank’s stock worth $70,702,000 after buying an additional 337,784 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Synovus Financial during the fourth quarter valued at $1,504,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Synovus Financial during the fourth quarter valued at $6,687,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Synovus Financial Stock Performance

SNV opened at $48.53 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $6.75 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The stock has a 50-day moving average of $45.28 and a 200-day moving average of $49.56. Synovus Financial Corp. has a 52-week low of $35.94 and a 52-week high of $59.92.

Synovus Financial (NYSE:SNV) last posted its earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.19. The firm had revenue of $573.24 million during the quarter, compared to analyst estimates of $572.35 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. As a group, equities research analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 19th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, June 18th. Synovus Financial’s dividend payout ratio is 43.70%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNV. Barclays reduced their price objective on Synovus Financial from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Truist Financial assumed coverage on shares of Synovus Financial in a research report on Tuesday, May 13th. They issued a “buy” rating and a $56.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Synovus Financial from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada dropped their price objective on shares of Synovus Financial from $64.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, Morgan Stanley decreased their target price on shares of Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.56.

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.