Rockefeller Capital Management L.P. Has $623,000 Stake in Synovus Financial Corp. (NYSE:SNV)

Rockefeller Capital Management L.P. increased its position in shares of Synovus Financial Corp. (NYSE:SNV) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,017 shares of the bank’s stock after purchasing an additional 978 shares during the period. Rockefeller Capital Management L.P.’s holdings in Synovus Financial were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Synovus Financial during the 3rd quarter worth $30,000. UMB Bank n.a. increased its position in Synovus Financial by 87.2% during the third quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock worth $33,000 after acquiring an additional 348 shares during the period. Innealta Capital LLC bought a new position in Synovus Financial during the second quarter worth about $43,000. Headlands Technologies LLC raised its stake in Synovus Financial by 404.8% in the 2nd quarter. Headlands Technologies LLC now owns 1,378 shares of the bank’s stock worth $55,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Synovus Financial in the 3rd quarter valued at about $56,000. 83.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNV has been the topic of several recent research reports. Stephens raised their target price on shares of Synovus Financial from $46.00 to $52.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. DA Davidson lifted their price objective on Synovus Financial from $53.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays increased their target price on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company increased their price objective on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.00.

Synovus Financial Trading Down 1.7 %

Shares of NYSE SNV opened at $54.84 on Tuesday. The firm has a 50 day moving average price of $51.74 and a two-hundred day moving average price of $45.47. The stock has a market cap of $7.77 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.38. Synovus Financial Corp. has a 52-week low of $33.44 and a 52-week high of $59.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.89.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $564.72 million during the quarter, compared to the consensus estimate of $557.64 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. Synovus Financial’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts forecast that Synovus Financial Corp. will post 4.37 EPS for the current year.

Synovus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 19th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, December 19th. Synovus Financial’s dividend payout ratio is currently 68.78%.

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.