Kiker Wealth Management LLC Acquires Shares of 32,057 Synovus Financial Corp. $SNV

Kiker Wealth Management LLC bought a new position in Synovus Financial Corp. (NYSE:SNV) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,057 shares of the bank’s stock, valued at approximately $1,573,000.

A number of other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System raised its stake in shares of Synovus Financial by 0.5% in the third quarter. New York State Teachers Retirement System now owns 97,635 shares of the bank’s stock worth $4,792,000 after purchasing an additional 478 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Synovus Financial by 12.0% during the third quarter. Bayforest Capital Ltd now owns 3,750 shares of the bank’s stock valued at $184,000 after purchasing an additional 403 shares during the last quarter. Oliver Luxxe Assets LLC lifted its position in Synovus Financial by 99.2% during the third quarter. Oliver Luxxe Assets LLC now owns 99,699 shares of the bank’s stock valued at $4,893,000 after purchasing an additional 49,644 shares during the period. HB Wealth Management LLC grew its position in Synovus Financial by 233.7% in the 3rd quarter. HB Wealth Management LLC now owns 18,407 shares of the bank’s stock worth $903,000 after purchasing an additional 12,891 shares during the period. Finally, McIlrath & Eck LLC raised its stake in Synovus Financial by 664.8% during the 3rd quarter. McIlrath & Eck LLC now owns 543 shares of the bank’s stock valued at $27,000 after buying an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Stock Performance

SNV opened at $50.51 on Tuesday. The company has a 50 day simple moving average of $49.46 and a two-hundred day simple moving average of $49.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $7.01 billion, a P/E ratio of 9.42, a PEG ratio of 0.88 and a beta of 1.21. Synovus Financial Corp. has a 1-year low of $35.94 and a 1-year high of $61.06.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, October 15th. The bank reported $1.46 EPS for the quarter, beating the consensus estimate of $1.36 by $0.10. The firm had revenue of $612.79 million for the quarter, compared to the consensus estimate of $604.59 million. Synovus Financial had a net margin of 21.97% and a return on equity of 16.13%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. Equities analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

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

Insider Buying and Selling at Synovus Financial

In other Synovus Financial news, Director Gregory G. Montana bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $45,370.00. Following the completion of the transaction, the director owned 5,464 shares of the company’s stock, valued at $247,901.68. This trade represents a 22.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNV has been the subject of several research analyst reports. Royal Bank Of Canada cut their price objective on Synovus Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Truist Financial cut their price target on Synovus Financial from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, October 17th. DA Davidson reaffirmed a “buy” rating and set a $63.00 price target on shares of Synovus Financial in a research report on Thursday, October 16th. Barclays raised their price objective on shares of Synovus Financial from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Synovus Financial from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $58.38.

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.