Jamison Private Wealth Management Inc. Sells 5,761 Shares of Synovus Financial Corp. (NYSE:SNV)

Jamison Private Wealth Management Inc. lowered its position in Synovus Financial Corp. (NYSE:SNV) by 36.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,235 shares of the bank’s stock after selling 5,761 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Synovus Financial were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several analysts have issued reports on SNV shares. JPMorgan Chase & Co. increased their target price on Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their target price on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. StockNews.com raised 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 issued a $58.00 price objective on shares of Synovus Financial in a research report on Thursday, January 16th. Finally, Bank of America increased their target price on shares of Synovus Financial from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Synovus Financial presently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Synovus Financial Stock Up 0.2 %

NYSE:SNV opened at $55.28 on Friday. The firm has a market capitalization of $7.83 billion, a P/E ratio of 18.13, a PEG ratio of 1.14 and a beta of 1.39. The company’s fifty day moving average price is $54.04 and its 200-day moving average price is $48.89. 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.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $566.83 million. During the same period last year, the business earned $0.80 earnings per share. Synovus Financial’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts anticipate that Synovus Financial Corp. will post 4.86 EPS for the current year.

Synovus Financial Announces Dividend

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

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.