Synovus Financial Corp. $SNV Shares Sold by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC reduced its position in shares of Synovus Financial Corp. (NYSE:SNV) by 12.2% in the second quarter, HoldingsChannel.com reports. The firm owned 6,848 shares of the bank’s stock after selling 948 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Synovus Financial were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Synovus Financial by 4.9% during the 2nd quarter. Fifth Third Bancorp now owns 4,082 shares of the bank’s stock valued at $211,000 after purchasing an additional 189 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Synovus Financial by 0.9% during the 1st quarter. State of Michigan Retirement System now owns 33,804 shares of the bank’s stock worth $1,580,000 after acquiring an additional 300 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Synovus Financial by 17.0% in the second quarter. UMB Bank n.a. now owns 2,118 shares of the bank’s stock worth $110,000 after buying an additional 308 shares during the period. Greenleaf Trust boosted its position in shares of Synovus Financial by 5.2% in the first quarter. Greenleaf Trust now owns 6,425 shares of the bank’s stock worth $300,000 after buying an additional 318 shares during the period. Finally, MFA Wealth Advisors LLC grew its position in Synovus Financial by 4.2% during the second quarter. MFA Wealth Advisors LLC now owns 8,066 shares of the bank’s stock valued at $417,000 after purchasing an additional 326 shares in the last quarter. 83.85% of the stock is owned by institutional investors.

Insider Transactions at Synovus Financial

In other news, Director Gregory G. Montana purchased 1,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $45.37 per share, for a total transaction of $45,370.00. Following the completion of the purchase, the director directly owned 5,464 shares of the company’s stock, valued at approximately $247,901.68. The trade was a 22.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Synovus Financial Price Performance

Shares of NYSE:SNV opened at $44.18 on Friday. Synovus Financial Corp. has a fifty-two week low of $35.94 and a fifty-two week 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. The stock has a market capitalization of $6.13 billion, a P/E ratio of 8.24, a P/E/G ratio of 0.77 and a beta of 1.21. The business has a 50-day moving average of $48.89 and a two-hundred day moving average of $48.76.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Wednesday, October 15th. The bank reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.10. Synovus Financial had a return on equity of 16.13% and a net margin of 21.97%.The firm had revenue of $612.79 million for the quarter, compared to analyst estimates of $604.59 million. During the same period in the previous year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Synovus Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. DA Davidson reissued a “buy” rating and set a $63.00 price objective on shares of Synovus Financial in a research report on Thursday, October 16th. Weiss Ratings cut Synovus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Raymond James Financial cut Synovus Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, July 28th. Finally, Morgan Stanley lifted their price objective on Synovus Financial from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.00.

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.