Boston Partners lifted its holdings in Synovus Financial Corp. (NYSE:SNV) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 998,395 shares of the bank’s stock after purchasing an additional 785 shares during the quarter. Boston Partners owned 0.68% of Synovus Financial worth $39,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of SNV. Carillon Tower Advisers Inc. raised its stake in shares of Synovus Financial by 341.1% in the third quarter. Carillon Tower Advisers Inc. now owns 754,225 shares of the bank’s stock worth $26,971,000 after purchasing an additional 583,250 shares during the last quarter. Bayview Asset Management LLC bought a new stake in shares of Synovus Financial in the third quarter worth $14,404,000. Foundry Partners LLC bought a new stake in shares of Synovus Financial in the third quarter worth $13,293,000. California Public Employees Retirement System grew its holdings in shares of Synovus Financial by 58.0% in the third quarter. California Public Employees Retirement System now owns 378,478 shares of the bank’s stock worth $13,534,000 after acquiring an additional 138,901 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Synovus Financial in the third quarter worth $4,087,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.
Shares of SNV opened at $36.63 on Friday. The business has a fifty day moving average of $37.84 and a 200 day moving average of $36.76. Synovus Financial Corp. has a one year low of $31.80 and a one year high of $40.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $5.46 billion, a P/E ratio of 10.53, a PEG ratio of 1.31 and a beta of 1.38.
Synovus Financial (NYSE:SNV) last released its quarterly earnings results on Friday, January 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.03). Synovus Financial had a net margin of 23.43% and a return on equity of 14.09%. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $484.72 million. During the same period in the prior year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. Analysts expect that Synovus Financial Corp. will post 3.48 EPS for the current fiscal year.
Several brokerages recently commented on SNV. Raymond James lowered Synovus Financial from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $46.00 to $41.00 in a report on Monday, January 27th. Piper Jaffray Companies set a $39.00 price objective on Synovus Financial and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Synovus Financial in a report on Monday, January 27th. SunTrust Banks cut their price objective on Synovus Financial to in a report on Monday, January 27th. Finally, ValuEngine raised Synovus Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.55.
Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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