EverSource Wealth Advisors LLC Has $91,000 Stock Position in Synovus Financial Corp. (NYSE:SNV)

EverSource Wealth Advisors LLC lifted its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,766 shares of the bank’s stock after acquiring an additional 473 shares during the period. EverSource Wealth Advisors LLC’s holdings in Synovus Financial were worth $91,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SNV. Atria Investments Inc raised its stake in shares of Synovus Financial by 42.1% in the third quarter. Atria Investments Inc now owns 7,198 shares of the bank’s stock worth $320,000 after purchasing an additional 2,132 shares during the last quarter. KBC Group NV grew its holdings in Synovus Financial by 15.9% during the third quarter. KBC Group NV now owns 4,460 shares of the bank’s stock worth $198,000 after buying an additional 612 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Synovus Financial by 7.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank’s stock valued at $6,525,000 after buying an additional 10,346 shares during the last quarter. Quest Partners LLC purchased a new position in Synovus Financial during the 3rd quarter worth $1,264,000. Finally, Pathstone Holdings LLC grew its stake in shares of Synovus Financial by 1.9% in the 3rd quarter. Pathstone Holdings LLC now owns 52,416 shares of the bank’s stock worth $2,331,000 after acquiring an additional 980 shares in the last quarter. Institutional investors own 83.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SNV shares. The Goldman Sachs Group boosted their price target on shares of Synovus Financial from $52.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Citigroup upped their target price on Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their price target on Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Stephens reiterated an “equal weight” rating and set a $58.00 target price on shares of Synovus Financial in a research note on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.67.

Synovus Financial Stock Up 0.4 %

Synovus Financial stock opened at $46.59 on Wednesday. The firm has a 50 day simple moving average of $52.45 and a 200 day simple moving average of $50.95. 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 1-year low of $33.44 and a 1-year high of $59.92. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.11 and a beta of 1.36.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The company had revenue of $580.58 million during the quarter, compared to analysts’ expectations of $566.83 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, analysts predict that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Synovus Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 20th. Synovus Financial’s dividend payout ratio is presently 51.15%.

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.