Investors Asset Management of Georgia Inc. GA ADV Has $1.05 Million Holdings in Synovus Financial Corp. (NYSE:SNV)

Investors Asset Management of Georgia Inc. GA ADV increased its stake in Synovus Financial Corp. (NYSE:SNV) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,446 shares of the bank’s stock after purchasing an additional 3,901 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Synovus Financial were worth $1,049,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SNV. Allworth Financial LP raised its position in Synovus Financial by 333.5% in the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock worth $27,000 after purchasing an additional 557 shares during the last quarter. International Assets Investment Management LLC bought a new position in Synovus Financial in the 4th quarter worth approximately $28,000. Lazard Asset Management LLC raised its position in Synovus Financial by 64.8% in the 4th quarter. Lazard Asset Management LLC now owns 809 shares of the bank’s stock worth $30,000 after purchasing an additional 318 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Synovus Financial in the 3rd quarter worth approximately $33,000. Finally, Belpointe Asset Management LLC raised its position in Synovus Financial by 138.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,095 shares of the bank’s stock worth $34,000 after purchasing an additional 635 shares during the last quarter. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Trading Down 6.9 %

Shares of SNV traded down $2.51 during trading hours on Thursday, reaching $34.11. The stock had a trading volume of 3,835,842 shares, compared to its average volume of 1,468,643. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.42. Synovus Financial Corp. has a 52 week low of $24.40 and a 52 week high of $40.92. The firm has a 50-day moving average of $37.96 and a 200 day moving average of $34.46. The company has a market cap of $4.99 billion, a P/E ratio of 9.87, a P/E/G ratio of 3.93 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). Synovus Financial had a return on equity of 14.95% and a net margin of 15.74%. The business had revenue of $537.73 million for the quarter, compared to analyst estimates of $547.62 million. During the same quarter in the prior year, the company earned $1.33 earnings per share. The company’s quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts expect that Synovus Financial Corp. will post 4.05 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were paid a $0.38 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.52 annualized dividend and a yield of 4.46%. Synovus Financial’s dividend payout ratio (DPR) is currently 43.93%.

Wall Street Analyst Weigh In

SNV has been the subject of several recent research reports. Jefferies Financial Group dropped their target price on shares of Synovus Financial from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Truist Financial upped their target price on shares of Synovus Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 1st. DA Davidson reiterated a “buy” rating on shares of Synovus Financial in a research report on Monday, January 15th. Keefe, Bruyette & Woods upped their target price on shares of Synovus Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Barclays initiated coverage on shares of Synovus Financial in a research report on Friday, March 8th. They set an “equal weight” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

Insider Activity at Synovus Financial

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

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.