Hantz Financial Services Inc. Has $93,000 Stock Position in Synovus Financial Corp. $SNV

Hantz Financial Services Inc. lifted its stake in Synovus Financial Corp. (NYSE:SNV) by 35,820.0% in the second quarter, HoldingsChannel reports. The firm owned 1,796 shares of the bank’s stock after purchasing an additional 1,791 shares during the period. Hantz Financial Services Inc.’s holdings in Synovus Financial were worth $93,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. acquired a new position in shares of Synovus Financial in the 2nd quarter valued at $41,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Synovus Financial in the 1st quarter valued at $47,000. IFP Advisors Inc boosted its position in shares of Synovus Financial by 650.4% in the 2nd quarter. IFP Advisors Inc now owns 1,058 shares of the bank’s stock valued at $60,000 after purchasing an additional 917 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Synovus Financial in the 2nd quarter valued at $60,000. Finally, Spectrum Wealth Counsel LLC purchased a new stake in Synovus Financial in the 1st quarter worth about $70,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Synovus Financial Price Performance

NYSE SNV opened at $44.80 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $6.22 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. The company has a 50 day moving average price of $48.51 and a two-hundred day moving average price of $48.96. Synovus Financial Corp. has a 12-month low of $35.94 and a 12-month high of $61.06.

Synovus Financial (NYSE:SNV) last posted its earnings results on Wednesday, October 15th. The bank reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.10. The firm had revenue of $612.79 million during the quarter, compared to analysts’ expectations of $604.59 million. Synovus Financial had a net margin of 21.97% and a return on equity of 16.13%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, equities analysts predict that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 18th were paid a $0.39 dividend. The ex-dividend date was Thursday, September 18th. This represents a $1.56 dividend on an annualized basis and a yield of 3.5%. Synovus Financial’s payout ratio is 29.10%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SNV shares. JPMorgan Chase & Co. reduced their price objective on Synovus Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Morgan Stanley increased their price objective on Synovus Financial from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Weiss Ratings downgraded Synovus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Wall Street Zen raised Synovus Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, UBS Group downgraded Synovus Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $56.00 in a research note on Tuesday, September 2nd. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Synovus Financial has an average rating of “Hold” and a consensus target price of $59.00.

Insider Transactions at Synovus Financial

In other Synovus Financial news, Director Gregory G. Montana bought 1,000 shares of Synovus Financial stock in a transaction on Monday, October 20th. The stock was purchased at an average cost of $45.37 per share, for a total transaction of $45,370.00. Following the completion of the purchase, the director directly owned 5,464 shares of the company’s stock, valued at $247,901.68. The trade was a 22.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Synovus Financial Company 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.