Oregon Public Employees Retirement Fund Sells 500 Shares of Synovus Financial Corp. (NYSE:SNV)

Oregon Public Employees Retirement Fund decreased its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,819 shares of the bank’s stock after selling 500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Synovus Financial were worth $1,476,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SNV. Keystone Financial Group Inc. bought a new stake in Synovus Financial during the 4th quarter valued at approximately $37,000. Quarry LP bought a new stake in Synovus Financial during the 3rd quarter valued at approximately $41,000. Brooklyn Investment Group bought a new stake in Synovus Financial during the 3rd quarter valued at approximately $56,000. V Square Quantitative Management LLC boosted its stake in Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after purchasing an additional 466 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Synovus Financial by 474.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,211 shares during the period. Institutional investors own 83.85% of the company’s stock.

Wall Street Analyst Weigh In

SNV has been the subject of several recent analyst reports. Barclays increased their target price on Synovus Financial from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their price target on Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Synovus Financial in a report on Monday, December 9th. They issued a “buy” rating and a $64.00 price target for the company. UBS Group initiated coverage on Synovus Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target for the company. Finally, Piper Sandler upped their price target on Synovus Financial from $56.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Synovus Financial currently has an average rating of “Moderate Buy” and an average price target of $58.44.

Synovus Financial Trading Up 1.2 %

Shares of SNV opened at $51.86 on Friday. Synovus Financial Corp. has a 1 year low of $33.44 and a 1 year high of $59.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $53.68 and a 200-day simple moving average of $50.68. The stock has a market cap of $7.35 billion, a PE ratio of 17.00, a PEG ratio of 1.11 and a beta of 1.39.

Synovus Financial (NYSE:SNV) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The firm had revenue of $580.58 million during the quarter, compared to analysts’ expectations of $566.83 million. During the same period last year, the firm posted $0.80 EPS. The business’s revenue was up 18.8% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a yield of 2.93%. Synovus Financial’s dividend payout ratio is 49.84%.

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.