Greenwood Capital Associates LLC Has $1.52 Million Position in Synovus Financial Corp. (NYSE:SNV)

Greenwood Capital Associates LLC trimmed its stake in Synovus Financial Corp. (NYSE:SNV) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,727 shares of the bank’s stock after selling 1,145 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Synovus Financial were worth $1,523,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Synovus Financial in the 3rd quarter valued at about $30,000. UMB Bank n.a. raised its position in shares of Synovus Financial by 87.2% during the third quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock worth $33,000 after purchasing an additional 348 shares during the period. Quarry LP bought a new position in shares of Synovus Financial in the 3rd quarter worth $41,000. Brooklyn Investment Group bought a new stake in Synovus Financial during the 3rd quarter valued at $56,000. Finally, Farther Finance Advisors LLC raised its holdings 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 buying an additional 1,211 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Synovus Financial from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their target price on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays upped their price target on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. UBS Group began coverage on Synovus Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. Finally, Evercore ISI upped their target price on shares of Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Synovus Financial has a consensus rating of “Moderate Buy” and an average target price of $58.44.

Synovus Financial Stock Down 1.9 %

Shares of NYSE SNV opened at $55.32 on Tuesday. 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 capitalization of $7.84 billion, a PE ratio of 18.07, a P/E/G ratio of 1.17 and a beta of 1.39. Synovus Financial Corp. has a one year low of $33.44 and a one year high of $59.92. The business’s fifty day moving average price is $53.94 and its 200-day moving average price is $49.43.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business had revenue of $580.58 million for the quarter, compared to the consensus estimate of $566.83 million. During the same period in the prior year, the firm earned $0.80 earnings per share. The company’s revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts anticipate that Synovus Financial Corp. will post 4.86 EPS for the current year.

Synovus Financial Dividend Announcement

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

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.