Universal Beteiligungs und Servicegesellschaft mbH Sells 138,804 Shares of Synovus Financial Corp. $SNV

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 90.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,670 shares of the bank’s stock after selling 138,804 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Synovus Financial were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its stake in shares of Synovus Financial by 1.7% in the 2nd quarter. Pzena Investment Management LLC now owns 680,368 shares of the bank’s stock worth $35,209,000 after purchasing an additional 11,521 shares during the period. Bank of Montreal Can increased its holdings in Synovus Financial by 17.4% during the second quarter. Bank of Montreal Can now owns 57,373 shares of the bank’s stock valued at $2,969,000 after buying an additional 8,509 shares during the last quarter. Wolverine Asset Management LLC bought a new position in Synovus Financial in the second quarter worth approximately $592,000. IFP Advisors Inc raised its position in Synovus Financial by 650.4% in the second quarter. IFP Advisors Inc now owns 1,058 shares of the bank’s stock worth $60,000 after acquiring an additional 917 shares during the period. Finally, Brighton Jones LLC purchased a new position in shares of Synovus Financial during the 2nd quarter worth $468,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Trading Down 1.6%

SNV stock opened at $50.51 on Monday. Synovus Financial Corp. has a fifty-two week low of $35.94 and a fifty-two week high of $61.06. The firm has a market cap of $7.01 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The firm has a fifty day moving average price of $50.82 and a 200 day moving average price of $49.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 0.91.

Synovus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Thursday, December 18th were given a $0.39 dividend. The ex-dividend date was Thursday, December 18th. This represents a $1.56 annualized dividend and a yield of 3.1%. Synovus Financial’s dividend payout ratio (DPR) is currently 29.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNV shares. Stephens decreased their target price on Synovus Financial from $54.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. Royal Bank Of Canada decreased their price objective on Synovus Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. DA Davidson reiterated a “buy” rating and set a $63.00 price objective on shares of Synovus Financial in a research note on Thursday, October 16th. Weiss Ratings cut shares of Synovus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Synovus Financial from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Synovus Financial presently has a consensus rating of “Hold” and an average target price of $58.08.

About Synovus Financial

Synovus Financial Corp (NYSE: SNV) is a regional financial services company headquartered in Columbus, Georgia. The company offers a comprehensive range of banking and financial products to individual consumers, small businesses, and large corporations. Synovus operates through various business segments, including commercial and retail banking, mortgage lending, treasury and payment solutions, and wealth management services.

In its commercial banking division, Synovus provides loans, lines of credit, and treasury management services tailored to the needs of businesses across multiple industries.