19,945 Shares in Synovus Financial Corp. $SNV Bought by Twin Capital Management Inc.

Twin Capital Management Inc. acquired a new position in shares of Synovus Financial Corp. (NYSE:SNV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,945 shares of the bank’s stock, valued at approximately $1,032,000.

Several other large investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Synovus Financial in the 2nd quarter valued at $41,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Synovus Financial during the first quarter worth about $47,000. IFP Advisors Inc increased its stake in shares of Synovus Financial by 650.4% in the second quarter. IFP Advisors Inc now owns 1,058 shares of the bank’s stock valued at $60,000 after buying an additional 917 shares during the period. Cullen Frost Bankers Inc. bought a new position in Synovus Financial in the 2nd quarter valued at approximately $60,000. Finally, Spectrum Wealth Counsel LLC bought a new position in Synovus Financial in the 1st quarter valued at approximately $70,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Synovus Financial Stock Down 0.9%

SNV stock opened at $44.74 on Friday. The stock’s 50 day simple moving average is $48.29 and its 200 day simple moving average is $48.90. The company has a market cap of $6.21 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 0.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 0.91. Synovus Financial Corp. has a fifty-two week low of $35.94 and a fifty-two week high of $61.06.

Synovus Financial (NYSE:SNV) last released 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 during the quarter, compared to the consensus estimate of $604.59 million. Synovus Financial had a return on equity of 16.13% and a net margin of 21.97%.The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, research analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Thursday, September 18th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $1.56 annualized dividend and a dividend yield of 3.5%. Synovus Financial’s dividend payout ratio is 29.10%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of Synovus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Raymond James Financial downgraded Synovus Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, July 28th. Wall Street Zen raised Synovus Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Barclays reduced their target price on Synovus Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, July 28th. Finally, Morgan Stanley raised their price target on shares of Synovus Financial from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Synovus Financial has an average rating of “Hold” and a consensus price target of $58.56.

Insider Buying and Selling at Synovus Financial

In related news, Director Gregory G. Montana bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were bought at an average price of $45.37 per share, with a total value of $45,370.00. Following the completion of the transaction, the director directly owned 5,464 shares in the company, valued at approximately $247,901.68. This represents a 22.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Synovus Financial 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.