Jump Financial LLC Has $231,000 Stock Position in Synovus Financial Corp. (NYSE:SNV)

Jump Financial LLC lessened its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 94.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,500 shares of the bank’s stock after selling 72,184 shares during the quarter. Jump Financial LLC’s holdings in Synovus Financial were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SNV. Keystone Financial Group Inc. acquired a new position in shares of Synovus Financial during the fourth quarter worth $37,000. Jones Financial Companies Lllp lifted its holdings in Synovus Financial by 72.7% in the fourth 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 during the period. V Square Quantitative Management LLC lifted its holdings in Synovus Financial by 69.3% in the fourth quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after buying an additional 466 shares during the period. Millstone Evans Group LLC acquired a new position in Synovus Financial in the fourth quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 473 shares during the period. Institutional investors and hedge funds own 83.85% of the company’s stock.

Synovus Financial Trading Down 0.8 %

Shares of SNV stock opened at $42.99 on Monday. Synovus Financial Corp. has a 52-week low of $35.74 and a 52-week high of $59.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $45.38 and a two-hundred day simple moving average of $50.73. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.19. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business had revenue of $573.24 million during the quarter, compared to the consensus estimate of $572.35 million. Research analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 3.63%. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.38. Synovus Financial’s dividend payout ratio (DPR) is presently 43.70%.

Analysts Set New Price Targets

Several research firms recently issued reports on SNV. Royal Bank of Canada dropped their target price on shares of Synovus Financial from $64.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Citigroup lifted 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. Morgan Stanley decreased their price target on shares of 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. Raymond James downgraded shares of Synovus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Finally, Barclays decreased their price target on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.17.

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.