Bahl & Gaynor Inc. Purchases Shares of 6,874 Synovus Financial Corp. (NYSE:SNV)

Bahl & Gaynor Inc. purchased a new stake in shares of Synovus Financial Corp. (NYSE:SNV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,874 shares of the bank’s stock, valued at approximately $259,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock worth $27,000 after acquiring an additional 557 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Synovus Financial in the fourth quarter valued at $28,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Synovus Financial in the fourth quarter valued at $42,000. First Command Advisory Services Inc. purchased a new stake in shares of Synovus Financial in the third quarter valued at $33,000. Finally, Arlington Trust Co LLC purchased a new stake in shares of Synovus Financial in the fourth quarter valued at $47,000. 83.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNV shares. Jefferies Financial Group reduced their target price on Synovus Financial from $46.00 to $43.00 and set a “buy” rating for the company in a report on Monday, April 8th. Bank of America cut their price objective on Synovus Financial from $44.00 to $40.00 and set a “buy” rating for the company in a report on Friday, April 19th. Barclays cut their price objective on Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. UBS Group increased their price objective on Synovus Financial from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, StockNews.com lowered Synovus Financial from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.38.

Synovus Financial Stock Up 0.7 %

SNV stock opened at $36.85 on Friday. Synovus Financial Corp. has a twelve month low of $24.40 and a twelve month high of $40.92. The company has a market cap of $5.40 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 4.25 and a beta of 1.40. The business’s 50-day simple moving average is $37.92 and its 200 day simple moving average is $34.91. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45.

Synovus Financial (NYSE:SNV) last released its earnings results on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The firm had revenue of $537.73 million for the quarter, compared to analyst estimates of $547.62 million. During the same period last year, the business earned $1.33 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts anticipate that Synovus Financial Corp. will post 3.77 earnings per share for the current year.

Synovus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Wednesday, March 20th. Synovus Financial’s dividend payout ratio is 52.05%.

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.