Yousif Capital Management LLC Has $2.64 Million Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

Yousif Capital Management LLC reduced its position in Synovus Financial Corp. (NYSE:SNV) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 51,589 shares of the bank’s stock after selling 2,927 shares during the period. Yousif Capital Management LLC’s holdings in Synovus Financial were worth $2,643,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in Synovus Financial in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in shares of Synovus Financial by 87.2% during the 3rd quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock worth $33,000 after acquiring an additional 348 shares during the last quarter. Quarry LP bought a new stake in Synovus Financial in the 3rd quarter valued at $41,000. Brooklyn Investment Group acquired a new stake in Synovus Financial during the 3rd quarter valued at $56,000. Finally, Farther Finance Advisors LLC boosted its position in Synovus Financial by 474.9% during the third quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock worth $65,000 after purchasing an additional 1,211 shares during the period. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Price Performance

SNV stock opened at $56.00 on Monday. Synovus Financial Corp. has a 1 year low of $33.44 and a 1 year high of $59.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.17 and a beta of 1.39. The company has a 50 day simple moving average of $53.86 and a 200 day simple moving average of $49.73.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $580.58 million for the quarter, compared to the consensus estimate of $566.83 million. During the same quarter last year, the business posted $0.80 EPS. Synovus Financial’s revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial’s dividend payout ratio is currently 49.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Synovus Financial in a research report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price objective on the stock. Citigroup increased their price target on shares of Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Synovus Financial in a research report on Monday, December 9th. They issued a “buy” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group upped their price objective on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.44.

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.