Values First Advisors Inc. Sells 3,344 Shares of Synovus Financial Corp. (NYSE:SNV)

Values First Advisors Inc. cut its holdings in Synovus Financial Corp. (NYSE:SNV) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,846 shares of the bank’s stock after selling 3,344 shares during the period. Synovus Financial accounts for 1.4% of Values First Advisors Inc.’s investment portfolio, making the stock its 11th biggest position. Values First Advisors Inc.’s holdings in Synovus Financial were worth $2,502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Savant Capital LLC lifted its stake in Synovus Financial by 2.7% in the 4th quarter. Savant Capital LLC now owns 11,923 shares of the bank’s stock worth $611,000 after purchasing an additional 314 shares in the last quarter. Entropy Technologies LP lifted its stake in Synovus Financial by 386.1% in the 4th quarter. Entropy Technologies LP now owns 31,220 shares of the bank’s stock worth $1,599,000 after purchasing an additional 24,798 shares in the last quarter. Vest Financial LLC lifted its stake in Synovus Financial by 46.4% in the 4th quarter. Vest Financial LLC now owns 48,818 shares of the bank’s stock worth $2,501,000 after purchasing an additional 15,477 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in Synovus Financial in the 4th quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Synovus Financial by 16.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,205 shares of the bank’s stock worth $5,334,000 after purchasing an additional 14,910 shares in the last quarter. 83.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of Synovus Financial in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 target price on the stock. Evercore ISI increased their target price on shares of Synovus Financial from $48.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $58.00 target price on shares of Synovus Financial in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Synovus Financial Trading Up 1.1 %

Shares of SNV opened at $55.71 on Wednesday. The firm’s 50-day moving average price is $53.82 and its 200-day moving average price is $49.84. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.17 and a beta of 1.39. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial Corp. has a 1-year low of $33.44 and a 1-year high of $59.92.

Synovus Financial (NYSE:SNV) last announced its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The firm had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. Sell-side analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current year.

Synovus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial’s payout ratio is 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.