Oakbrook Investments LLC lowered its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,513 shares of the bank’s stock after selling 1,044 shares during the period. Oakbrook Investments LLC’s holdings in Synovus Financial were worth $208,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SNV. Stratos Wealth Partners LTD. purchased a new stake in shares of Synovus Financial during the 3rd quarter worth approximately $113,000. Oakworth Capital Inc. increased its stake in shares of Synovus Financial by 225.2% during the 3rd quarter. Oakworth Capital Inc. now owns 3,915 shares of the bank’s stock worth $179,000 after purchasing an additional 2,711 shares during the last quarter. FineMark National Bank & Trust purchased a new stake in shares of Synovus Financial during the 3rd quarter worth approximately $203,000. Virtu Financial LLC purchased a new stake in shares of Synovus Financial during the 4th quarter worth approximately $221,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Synovus Financial during the 3rd quarter worth approximately $257,000. Institutional investors own 80.77% of the company’s stock.

SNV opened at $35.65 on Friday. The company has a market capitalization of $4.05 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. Synovus Financial Corp. has a 12 month low of $29.93 and a 12 month high of $57.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Tuesday, January 15th. The bank reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.02). Synovus Financial had a return on equity of 15.68% and a net margin of 26.38%. The business had revenue of $365.90 million during the quarter, compared to the consensus estimate of $370.64 million. During the same period last year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Synovus Financial Corp. will post 3.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Thursday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, December 19th. Synovus Financial’s payout ratio is 27.47%.

In other news, CEO Kessel D. Stelling purchased 7,500 shares of the business’s stock in a transaction on Thursday, December 6th. The stock was purchased at an average cost of $34.72 per share, with a total value of $260,400.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Allen J. Gula sold 1,400 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $37.29, for a total transaction of $52,206.00. Following the completion of the transaction, the executive vice president now directly owns 72,283 shares of the company’s stock, valued at $2,695,433.07. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Several research analysts recently commented on the stock. FIG Partners raised shares of Synovus Financial from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 13th. Barclays raised shares of Synovus Financial from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $47.00 to $45.00 in a report on Thursday, January 10th. Piper Jaffray Companies raised shares of Synovus Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $44.00 to $45.00 in a report on Tuesday, January 22nd. Keefe, Bruyette & Woods raised shares of Synovus Financial from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Thursday, November 8th. Finally, Royal Bank of Canada cut their price objective on shares of Synovus Financial to $48.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $46.48.

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Synovus Financial 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 cash management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.

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Institutional Ownership by Quarter for Synovus Financial (NYSE:SNV)

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