Synovus Financial Corp. (NYSE:SNV) Shares Acquired by Yousif Capital Management LLC

Yousif Capital Management LLC lifted its stake in Synovus Financial Corp. (NYSE:SNV) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,749 shares of the bank’s stock after purchasing an additional 360 shares during the period. Yousif Capital Management LLC’s holdings in Synovus Financial were worth $2,626,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AE Wealth Management LLC lifted its position in shares of Synovus Financial by 36.2% during the 3rd quarter. AE Wealth Management LLC now owns 18,728 shares of the bank’s stock valued at $521,000 after acquiring an additional 4,980 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Synovus Financial during the third quarter worth $214,000. Raymond James Financial Services Advisors Inc. boosted its position in Synovus Financial by 11.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,867 shares of the bank’s stock worth $636,000 after purchasing an additional 2,305 shares in the last quarter. Sippican Capital Advisors grew its holdings in Synovus Financial by 7.2% in the third quarter. Sippican Capital Advisors now owns 7,400 shares of the bank’s stock valued at $206,000 after purchasing an additional 500 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Synovus Financial by 6.4% in the third quarter. Brown Advisory Inc. now owns 11,443 shares of the bank’s stock valued at $318,000 after buying an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Trading Down 1.0 %

Shares of SNV opened at $36.48 on Tuesday. The stock’s fifty day simple moving average is $37.92 and its 200 day simple moving average is $35.03. Synovus Financial Corp. has a twelve month low of $24.40 and a twelve month high of $40.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $5.34 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 4.25 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last issued its earnings results on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.20). The company had revenue of $537.73 million during the quarter, compared to analysts’ expectations of $547.62 million. Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. Synovus Financial’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 EPS. On average, equities research analysts forecast that Synovus Financial Corp. will post 3.77 earnings per share for the current year.

Synovus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Wednesday, March 20th. Synovus Financial’s payout ratio is 52.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNV shares. Wells Fargo & Company lowered their price objective on shares of Synovus Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Raymond James lowered shares of Synovus Financial from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 18th. Royal Bank of Canada cut their price objective on Synovus Financial from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Evercore ISI increased their target price on Synovus Financial from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Bank of America cut their price target on Synovus Financial from $44.00 to $40.00 and set a “buy” rating for the company in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.38.

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.