Cooper Financial Group Invests $212,000 in Synovus Financial Corp. (NYSE:SNV)

Cooper Financial Group bought a new position in Synovus Financial Corp. (NYSE:SNV) during the fourth quarter, Holdings Channel reports. The firm bought 4,143 shares of the bank’s stock, valued at approximately $212,000.

Several other large investors have also added to or reduced their stakes in SNV. Headlands Technologies LLC lifted its holdings in shares of Synovus Financial by 404.8% in the second quarter. Headlands Technologies LLC now owns 1,378 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,105 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Synovus Financial by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,762,983 shares of the bank’s stock valued at $231,597,000 after buying an additional 491,036 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Synovus Financial by 8.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,847 shares of the bank’s stock valued at $838,000 after acquiring an additional 1,706 shares in the last quarter. Blair William & Co. IL purchased a new position in Synovus Financial during the 2nd quarter worth $236,000. Finally, Hsbc Holdings PLC boosted its holdings in Synovus Financial by 27.4% during the 2nd quarter. Hsbc Holdings PLC now owns 12,018 shares of the bank’s stock worth $480,000 after acquiring an additional 2,586 shares during the last quarter. Institutional investors own 83.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNV. The Goldman Sachs Group raised their price target on shares of Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. DA Davidson lifted their target price on shares of Synovus Financial from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Barclays upped their target price on Synovus Financial from $56.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Citigroup set a $59.00 price target on Synovus Financial in a report on Friday, October 18th. Finally, StockNews.com upgraded Synovus Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Synovus Financial currently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Synovus Financial Stock Up 3.4 %

SNV opened at $53.63 on Wednesday. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92. The company has a market cap of $7.60 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.58 and a beta of 1.39. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $54.29 and a 200 day moving average of $48.01.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The company had revenue of $564.72 million during the quarter, compared to analysts’ expectations of $557.64 million. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Synovus Financial Corp. will post 4.37 EPS for the current year.

Synovus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial’s payout ratio is presently 68.78%.

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.