1 week Ago By Defense World Staff
JPMorgan Chase & Co. increased its stake in shares of Synovus Financial Corp. ( NYSE:SNV – Free Report ) by 20.
1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,543 shares of the bank’s stock after purchasing an additional 72,745 shares during the quarter. JPMorgan Chase & Co.
owned approximately 0.31% of Synovus Financial worth $22,313,000 as of its most recent SEC filing. Other institutional investors also recently added to or reduced their stakes in the company.
Prudential Financial Inc. lifted its position in shares of Synovus Financial by 349.4% during the fourth quarter.
Prudential Financial Inc. now owns 529,147 shares of the bank’s stock valued at $27,108,000 after buying an additional 411,411 shares during the last quarter. TruWealth Advisors LLC purchased a new stake in Synovus Financial during the fourth quarter valued at approximately $12,350,000.
Blue Trust Inc. lifted its position in Synovus Financial by 934.0% during the fourth quarter.
Blue Trust Inc. now owns 246,686 shares of the bank’s stock valued at $12,638,000 after acquiring an additional 222,828 shares during the last quarter. State Street Corp boosted its stake in Synovus Financial by 3.
2% in the third quarter. State Street Corp now owns 6,561,056 shares of the bank’s stock valued at $294,255,000 after acquiring an additional 201,362 shares in the last quarter. Finally, Raymond James Financial Inc.
purchased a new position in Synovus Financial in the fourth quarter worth $6,687,000. Institutional investors own 83.85% of the company’s stock.
Analyst Upgrades and Downgrades Several analysts have recently commented on SNV shares. Piper Sandler increased their price objective on Synovus Financial from $56.00 to $64.
00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Raymond James cut Synovus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co.
boosted their price target on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th.
Morgan Stanley decreased their price objective on shares of Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th.
Finally, Barclays dropped their target price on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday.
Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.
17. Synovus Financial Stock Up 12.0 % Synovus Financial stock opened at $42.
86 on Thursday. Synovus Financial Corp. has a 52 week low of $33.
44 and a 52 week high of $59.92. The firm has a market cap of $6.
04 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.11 and a beta of 1.
16. The business’s 50-day moving average price is $48.84 and its 200 day moving average price is $50.
88. The company has a quick ratio of 0.88, a current ratio of 0.
88 and a debt-to-equity ratio of 0.37. Synovus Financial ( NYSE:SNV – Get Free Report ) last posted its earnings results on Wednesday, January 15th.
The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.
09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.
70%. The firm had revenue of $580.58 million during the quarter, compared to analyst estimates of $566.
83 million. During the same period in the previous year, the firm earned $0.80 EPS.
The business’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Synovus Financial Corp.
will post 4.89 earnings per share for the current year. Synovus Financial Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st.
Stockholders of record on Thursday, March 20th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 20th.
This is a boost from Synovus Financial’s previous quarterly dividend of $0.38. This represents a $1.
56 dividend on an annualized basis and a dividend yield of 3.64%. Synovus Financial’s dividend payout ratio (DPR) is 51.
15%. About Synovus Financial ( Free Report ) 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. Featured Articles Five stocks we like better than Synovus Financial ETF Screener: Uses and Step-by-Step Guide Quantum Computing: The $6.
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