Mitsubishi UFJ Trust & Banking Corp Has $3.75 Million Stock Holdings in Synovus Financial Corp. $SNV

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 57.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,334 shares of the bank’s stock after acquiring an additional 27,715 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Synovus Financial were worth $3,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC boosted 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 valued at $35,209,000 after purchasing an additional 11,521 shares during the last quarter. Bank of Montreal Can lifted its holdings in Synovus Financial by 17.4% in 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 period. Wolverine Asset Management LLC bought a new stake in Synovus Financial during the second quarter valued at $592,000. Brighton Jones LLC acquired a new stake in Synovus Financial during the 2nd quarter worth about $468,000. Finally, IFP Advisors Inc raised 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 worth $60,000 after acquiring an additional 917 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. DA Davidson restated a “buy” rating and set a $63.00 target price on shares of Synovus Financial in a research report on Thursday, October 16th. Truist Financial dropped their price target on Synovus Financial from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. UBS Group cut their price target on Synovus Financial from $53.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada lowered their price objective on shares of Synovus Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Finally, Stephens dropped their target price on shares of Synovus Financial from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 17th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.08.

Synovus Financial Trading Down 1.6%

NYSE SNV opened at $50.51 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. Synovus Financial Corp. has a 52 week low of $35.94 and a 52 week high of $61.06. The business has a 50 day moving average price of $50.75 and a 200-day moving average price of $49.53. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.88 and a beta of 1.21.

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Thursday, December 18th were issued a dividend of $0.39 per share. 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 is presently 29.10%.

Synovus Financial Company Profile

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.