Synovus Financial (NYSE:SNV) Shares Unloaded Rep. W. Gregory Steube

Representative W. Gregory Steube (R-Florida) recently sold shares of Synovus Financial Corp. (NYSE:SNV). In a filing disclosed on April 04th, the Representative disclosed that they had sold between $15,001 and $50,000 in Synovus Financial stock on February 19th. The trade occurred in the Representative’s “INVESTMENT” account.

Synovus Financial Trading Up 3.2 %

SNV traded up $1.23 on Tuesday, hitting $39.99. The company had a trading volume of 194,162 shares, compared to its average volume of 1,408,874. The company’s fifty day moving average price is $50.07 and its 200 day moving average price is $51.08. 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 cap of $5.64 billion, a P/E ratio of 13.19, a PEG ratio of 1.11 and a beta of 1.16.

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

Synovus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a yield of 3.90%. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.38. Synovus Financial’s payout ratio is 51.15%.

Hedge Funds Weigh In On Synovus Financial

Several hedge funds have recently modified their holdings of SNV. GAMMA Investing LLC increased its holdings in Synovus Financial by 6,328.4% in the 1st quarter. GAMMA Investing LLC now owns 250,900 shares of the bank’s stock worth $11,727,000 after acquiring an additional 246,997 shares during the last quarter. Quent Capital LLC raised its stake in Synovus Financial by 205.6% in the first quarter. Quent Capital LLC now owns 1,797 shares of the bank’s stock valued at $84,000 after purchasing an additional 1,209 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Synovus Financial by 320.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,111 shares of the bank’s stock worth $1,389,000 after acquiring an additional 20,662 shares in the last quarter. Phocas Financial Corp. increased its position in shares of Synovus Financial by 90.2% during the 4th quarter. Phocas Financial Corp. now owns 177,231 shares of the bank’s stock valued at $9,080,000 after purchasing an additional 84,036 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Synovus Financial in the 4th quarter worth approximately $7,799,000. Institutional investors own 83.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNV. Citigroup increased their price objective on shares of Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Piper Sandler increased their price objective on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, UBS Group assumed coverage on Synovus Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Synovus Financial presently has an average rating of “Moderate Buy” and a consensus target price of $58.67.

About Representative Steube

Greg Steube (Republican Party) is a member of the U.S. House, representing Florida’s 17th Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2027.

Steube (Republican Party) is running for re-election to the U.S. House to represent Florida’s 17th Congressional District. He declared candidacy for the 2026 election.

Before holding elected office, Steube served as an airborne infantry officer and judge advocate general in the U.S. Army. He received his undergraduate degree and J.D. from the University of Florida.

About Synovus Financial

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.