Synovus Financial Corp. (NYSE:SNV) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. lowered its position in Synovus Financial Corp. (NYSE:SNV) by 66.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,805 shares of the bank’s stock after selling 74,556 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Synovus Financial were worth $1,386,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SNV. American Century Companies Inc. increased its stake in shares of Synovus Financial by 46.0% during the third quarter. American Century Companies Inc. now owns 957,939 shares of the bank’s stock worth $26,631,000 after purchasing an additional 301,604 shares in the last quarter. Prudential PLC purchased a new stake in shares of Synovus Financial during the third quarter worth about $1,025,000. rhino investment partners Inc purchased a new stake in shares of Synovus Financial during the third quarter worth about $5,984,000. Barclays PLC increased its stake in shares of Synovus Financial by 17.6% during the third quarter. Barclays PLC now owns 437,126 shares of the bank’s stock worth $12,151,000 after purchasing an additional 65,434 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Synovus Financial by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,709,107 shares of the bank’s stock worth $103,113,000 after purchasing an additional 132,904 shares in the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNV. DA Davidson reissued a “buy” rating on shares of Synovus Financial in a research note on Monday, January 15th. Jefferies Financial Group dropped their price objective on shares of Synovus Financial from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, April 8th. StockNews.com cut shares of Synovus Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Royal Bank of Canada upped their price objective on shares of Synovus Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Stephens began coverage on shares of Synovus Financial in a research note on Tuesday, December 19th. They set an “equal weight” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong 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 $41.50.

Insider Buying and Selling at Synovus Financial

In other Synovus Financial news, Director Tim E. Bentsen sold 4,671 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $38.62, for a total transaction of $180,394.02. Following the completion of the transaction, the director now directly owns 33,144 shares in the company, valued at approximately $1,280,021.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Tim E. Bentsen sold 4,671 shares of Synovus Financial stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $38.62, for a total transaction of $180,394.02. Following the completion of the sale, the director now directly owns 33,144 shares in the company, valued at $1,280,021.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas T. Dierdorff sold 2,045 shares of Synovus Financial stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $38.23, for a total transaction of $78,180.35. Following the sale, the executive vice president now owns 11,086 shares of the company’s stock, valued at $423,817.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Synovus Financial Stock Performance

Shares of SNV stock opened at $36.83 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.89 and a current ratio of 0.89. Synovus Financial Corp. has a one year low of $24.40 and a one year high of $40.92. The firm’s 50 day moving average price is $37.88 and its 200-day moving average price is $34.22. The firm has a market cap of $5.39 billion, a P/E ratio of 10.65, a P/E/G ratio of 4.00 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, January 17th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.14). Synovus Financial had a net margin of 15.74% and a return on equity of 14.95%. The company had revenue of $488.68 million during the quarter, compared to analyst estimates of $527.60 million. As a group, equities research analysts predict that Synovus Financial Corp. will post 4.04 EPS for the current year.

Synovus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.52 annualized dividend and a yield of 4.13%. Synovus Financial’s dividend payout ratio (DPR) is currently 43.93%.

Synovus Financial 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.