Wealth Enhancement Advisory Services LLC Purchases 21,305 Shares of Synovus Financial Corp. $SNV

Wealth Enhancement Advisory Services LLC raised its position in shares of Synovus Financial Corp. (NYSE:SNV) by 40.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,333 shares of the bank’s stock after buying an additional 21,305 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.05% of Synovus Financial worth $3,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Synovus Financial by 51.2% during the first quarter. Royal Bank of Canada now owns 26,820 shares of the bank’s stock worth $1,254,000 after purchasing an additional 9,080 shares during the period. Goldman Sachs Group Inc. increased its holdings in Synovus Financial by 78.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 523,479 shares of the bank’s stock valued at $24,467,000 after purchasing an additional 229,730 shares during the period. Focus Partners Wealth raised its position in Synovus Financial by 14.0% during the 1st quarter. Focus Partners Wealth now owns 17,616 shares of the bank’s stock valued at $823,000 after purchasing an additional 2,169 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Synovus Financial in the 2nd quarter worth approximately $270,000. Finally, Fifth Third Bancorp lifted its holdings in Synovus Financial by 4.9% in the 2nd quarter. Fifth Third Bancorp now owns 4,082 shares of the bank’s stock worth $211,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Price Performance

SNV stock opened at $50.51 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 0.91. Synovus Financial Corp. has a 52-week low of $35.94 and a 52-week high of $61.06. The firm has a 50 day moving average price of $50.56 and a 200-day moving average price of $49.52. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.88 and a beta of 1.21.

Synovus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Thursday, December 18th were issued a $0.39 dividend. The ex-dividend date was Thursday, December 18th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.1%. Synovus Financial’s payout ratio is 29.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNV shares. JPMorgan Chase & Co. upped their target price on Synovus Financial from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Barclays boosted their price objective on shares of Synovus Financial from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. DA Davidson reaffirmed a “buy” rating and issued a $63.00 target price on shares of Synovus Financial in a research report on Thursday, October 16th. Weiss Ratings lowered shares of Synovus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Stephens reduced their price target on shares of Synovus Financial from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Synovus Financial has an average rating of “Hold” and an average target price of $58.08.

About Synovus Financial

Synovus Financial Corp (NYSE: SNV) is a regional financial services company headquartered in Columbus, Georgia. The company offers a comprehensive range of banking and financial products to individual consumers, small businesses, and large corporations. Synovus operates through various business segments, including commercial and retail banking, mortgage lending, treasury and payment solutions, and wealth management services.

In its commercial banking division, Synovus provides loans, lines of credit, and treasury management services tailored to the needs of businesses across multiple industries.