Colonial Trust Co SC Has $30,000 Position in Synovus Financial Corp. (NYSE:SNV)

Colonial Trust Co SC raised its stake in Synovus Financial Corp. (NYSE:SNV) by 554.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589 shares of the bank’s stock after acquiring an additional 499 shares during the period. Colonial Trust Co SC’s holdings in Synovus Financial were worth $30,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Keystone Financial Group Inc. acquired a new position in Synovus Financial in the fourth quarter valued at about $37,000. Jones Financial Companies Lllp raised its position in shares of Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock valued at $56,000 after buying an additional 461 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock worth $58,000 after acquiring an additional 466 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Synovus Financial during the 4th quarter worth approximately $59,000. Finally, EverSource Wealth Advisors LLC increased its stake in Synovus Financial by 36.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the bank’s stock valued at $91,000 after acquiring an additional 473 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNV. Morgan Stanley cut their target price on Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada decreased their target price on Synovus Financial from $64.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. DA Davidson lowered their target price on Synovus Financial from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Citigroup raised their price target on shares of Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Barclays lowered their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.17.

Synovus Financial Trading Down 0.7 %

NYSE SNV opened at $46.09 on Friday. The firm has a market capitalization of $6.41 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The business’s 50-day moving average price is $43.97 and its two-hundred day moving average price is $50.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial Corp. has a 12 month low of $35.81 and a 12 month high of $59.92.

Synovus Financial (NYSE:SNV) last announced its earnings results on Wednesday, April 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The business had revenue of $573.24 million for the quarter, compared to analysts’ expectations of $572.35 million. On average, analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current year.

Synovus Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.38%. Synovus Financial’s dividend payout ratio (DPR) is 43.70%.

Synovus Financial Company Profile

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.