Synovus Financial Corp. (NYSE:SNV) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC cut its holdings in Synovus Financial Corp. (NYSE:SNV) by 12.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,955 shares of the bank’s stock after selling 2,014 shares during the period. HB Wealth Management LLC’s holdings in Synovus Financial were worth $715,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its stake in Synovus Financial by 8.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,847 shares of the bank’s stock valued at $838,000 after acquiring an additional 1,706 shares during the period. Blair William & Co. IL bought a new stake in shares of Synovus Financial in the 2nd quarter worth approximately $236,000. Hsbc Holdings PLC boosted its position in Synovus Financial by 27.4% during the 2nd quarter. Hsbc Holdings PLC now owns 12,018 shares of the bank’s stock valued at $480,000 after purchasing an additional 2,586 shares during the period. Intech Investment Management LLC bought a new position in Synovus Financial during the 2nd quarter worth $1,751,000. Finally, AE Wealth Management LLC acquired a new stake in Synovus Financial in the second quarter worth $510,000. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Price Performance

Shares of NYSE:SNV opened at $55.37 on Wednesday. The company has a market capitalization of $7.84 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.38 and a beta of 1.39. 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 stock has a fifty day moving average of $54.09 and a 200-day moving average of $48.62. Synovus Financial Corp. has a one year low of $33.44 and a one year high of $59.92.

Synovus Financial (NYSE:SNV) last announced its earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $580.58 million during the quarter, compared to the consensus estimate of $566.83 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. Synovus Financial’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, equities analysts anticipate that Synovus Financial Corp. will post 4.76 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.75%. Synovus Financial’s dividend payout ratio is currently 49.84%.

Analyst Upgrades and Downgrades

SNV has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of Synovus Financial in a research report on Thursday, December 12th. StockNews.com upgraded shares of Synovus Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reaffirmed an “equal weight” rating and set a $58.00 price target on shares of Synovus Financial in a report on Thursday, January 16th. Evercore ISI increased their price objective on Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

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.