Values First Advisors Inc. Acquires 1,735 Shares of Synovus Financial Corp. (NYSE:SNV)

Values First Advisors Inc. increased its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 62,145 shares of the bank’s stock after buying an additional 1,735 shares during the quarter. Synovus Financial makes up approximately 1.4% of Values First Advisors Inc.’s investment portfolio, making the stock its 15th largest position. Values First Advisors Inc.’s holdings in Synovus Financial were worth $2,340,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SNV. American Century Companies Inc. grew its position in Synovus Financial by 46.0% during the third quarter. American Century Companies Inc. now owns 957,939 shares of the bank’s stock worth $26,631,000 after buying an additional 301,604 shares in the last quarter. Prudential PLC bought a new stake in shares of Synovus Financial in the 3rd quarter valued at about $1,025,000. rhino investment partners Inc bought a new position in Synovus Financial during the 3rd quarter valued at approximately $5,984,000. Barclays PLC raised its position in Synovus Financial by 17.6% during the 3rd quarter. Barclays PLC now owns 437,126 shares of the bank’s stock valued at $12,151,000 after purchasing an additional 65,434 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Synovus Financial by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,709,107 shares of the bank’s stock worth $103,113,000 after acquiring an additional 132,904 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors.

Synovus Financial Stock Up 0.6 %

Shares of NYSE SNV traded up $0.24 during mid-day trading on Friday, hitting $40.06. The company had a trading volume of 923,476 shares, compared to its average volume of 1,473,857. The company has a market capitalization of $5.87 billion, a PE ratio of 11.58 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.89. Synovus Financial Corp. has a 1-year low of $24.40 and a 1-year high of $40.92. The business’s 50-day simple moving average is $37.85 and its 200 day simple moving average is $33.54.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, January 17th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.14). The company had revenue of $488.68 million during the quarter, compared to analyst estimates of $527.60 million. Synovus Financial had a net margin of 15.74% and a return on equity of 14.95%. On average, analysts predict that Synovus Financial Corp. will post 4.03 earnings per share for the current year.

Synovus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Thursday, March 21st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $1.52 annualized dividend and a dividend yield of 3.79%. Synovus Financial’s dividend payout ratio is presently 43.93%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Synovus Financial from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, December 18th. DA Davidson reaffirmed a “buy” rating on shares of Synovus Financial in a report on Monday, January 15th. Truist Financial raised their price target on Synovus Financial from $38.00 to $46.00 and gave the company a “buy” rating in a report on Friday, December 15th. UBS Group lifted their price objective on Synovus Financial from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Barclays began coverage on shares of Synovus Financial in a report on Friday, March 8th. They issued an “equal weight” rating and a $42.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Synovus Financial currently has an average rating of “Moderate Buy” and an average price target of $39.13.

Insider Buying and Selling

In other news, EVP Thomas T. Dierdorff sold 2,045 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the sale, the executive vice president now owns 11,086 shares in the company, valued at approximately $423,817.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Synovus Financial news, Director Tim E. Bentsen sold 4,671 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $38.62, for a total value of $180,394.02. Following the completion of the sale, the director now owns 33,144 shares in the company, valued at approximately $1,280,021.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas T. Dierdorff sold 2,045 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total transaction of $78,180.35. Following the transaction, the executive vice president now owns 11,086 shares in the company, valued at approximately $423,817.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

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.