Mitsubishi UFJ Trust & Banking Corp Buys 27,715 Shares of Synovus Financial Corp. $SNV

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Synovus Financial Corp. (NYSE:SNV) by 57.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,334 shares of the bank’s stock after purchasing an additional 27,715 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Synovus Financial worth $3,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC increased its holdings in Synovus Financial by 664.8% in 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 period. Elevation Point Wealth Partners LLC bought a new position in Synovus Financial in the second quarter valued at approximately $31,000. True Wealth Design LLC raised its position in Synovus Financial by 1,817.8% during the third quarter. True Wealth Design LLC now owns 863 shares of the bank’s stock valued at $42,000 after purchasing an additional 818 shares in the last quarter. Ransom Advisory Ltd lifted its stake in Synovus Financial by 90.0% during the third quarter. Ransom Advisory Ltd now owns 950 shares of the bank’s stock worth $47,000 after purchasing an additional 450 shares during the last quarter. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of Synovus Financial in the 3rd quarter valued at $46,000. Institutional investors own 83.85% of the company’s stock.

Wall Street Analyst Weigh In

SNV has been the subject of a number of research analyst reports. UBS Group lowered their price target on Synovus Financial from $53.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on Synovus Financial from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Barclays increased their target price 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. Weiss Ratings lowered shares of Synovus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Truist Financial dropped their price objective on shares of Synovus Financial from $56.00 to $55.00 and set a “buy” rating for the company in a research note 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 data from MarketBeat.com, Synovus Financial has a consensus rating of “Hold” and a consensus target price of $58.08.

Synovus Financial Stock Performance

Synovus Financial stock opened at $50.51 on Friday. The business has a 50 day moving average of $50.75 and a 200-day moving average of $49.53. The company has a market capitalization of $7.01 billion, a P/E ratio of 9.42, a P/E/G 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. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.91.

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Investors 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 annualized dividend and a dividend yield of 3.1%. Synovus Financial’s payout ratio is currently 29.10%.

Synovus Financial Profile

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.