Measured Wealth Private Client Group LLC Invests $401,000 in Synovus Financial Corp. (NYSE:SNV)

Measured Wealth Private Client Group LLC bought a new position in Synovus Financial Corp. (NYSE:SNV) in the 1st quarter, Holdings Channel reports. The firm bought 8,575 shares of the bank’s stock, valued at approximately $401,000.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in shares of Synovus Financial in the 4th quarter worth about $222,000. Cerity Partners LLC lifted its holdings in shares of Synovus Financial by 50.9% in the 1st quarter. Cerity Partners LLC now owns 23,879 shares of the bank’s stock worth $1,116,000 after acquiring an additional 8,059 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Synovus Financial during the 1st quarter valued at about $251,000. First Citizens Bank & Trust Co. lifted its holdings in Synovus Financial by 32.8% during the 1st quarter. First Citizens Bank & Trust Co. now owns 23,132 shares of the bank’s stock valued at $1,081,000 after buying an additional 5,717 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in Synovus Financial during the 1st quarter valued at about $237,000. Institutional investors own 83.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNV. Barclays decreased their price objective on shares of Synovus Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, July 28th. Wells Fargo & Company reiterated an “equal weight” rating and set a $58.00 price objective (down previously from $62.00) on shares of Synovus Financial in a report on Friday, July 25th. DA Davidson lifted their price objective on shares of Synovus Financial from $60.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 18th. Royal Bank Of Canada decreased their price objective on shares of Synovus Financial from $64.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods upgraded shares of Synovus Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $58.00 to $65.00 in a report on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.78.

Insider Activity

In other news, Director Gregory G. Montana acquired 1,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $46.74 per share, with a total value of $46,740.00. Following the transaction, the director directly owned 4,341 shares in the company, valued at approximately $202,898.34. This represents a 29.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew J. Jr. Gregory bought 2,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $48.90 per share, for a total transaction of $97,800.00. Following the transaction, the chief financial officer owned 58,220 shares in the company, valued at $2,846,958. The trade was a 3.56% increase in their position. The disclosure for this purchase can be found here. Insiders bought 8,040 shares of company stock worth $392,916 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Synovus Financial Stock Up 1.7%

Shares of Synovus Financial stock opened at $47.88 on Friday. The firm’s 50 day moving average price is $50.96 and its 200-day moving average price is $48.97. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.77. Synovus Financial Corp. has a 52-week low of $35.94 and a 52-week high of $61.06. The company has a market cap of $6.65 billion, a P/E ratio of 9.19, a PEG ratio of 0.80 and a beta of 1.21.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Wednesday, July 16th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.23. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. The firm had revenue of $592.08 million for the quarter, compared to the consensus estimate of $584.89 million. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, sell-side analysts predict that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, June 19th were given a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.3%. Synovus Financial’s payout ratio is presently 29.94%.

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.