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

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in Synovus Financial Corp. (NYSE:SNV) by 90.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC lifted its stake in shares of Synovus Financial by 4.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,166 shares of the bank’s stock valued at $254,000 after purchasing an additional 226 shares during the period. Stephens Inc. AR raised its holdings in Synovus Financial by 6.7% in the third quarter. Stephens Inc. AR now owns 5,177 shares of the bank’s stock worth $254,000 after purchasing an additional 324 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Synovus Financial by 0.6% in the second quarter. Treasurer of the State of North Carolina now owns 64,777 shares of the bank’s stock worth $3,352,000 after purchasing an additional 399 shares in the last quarter. Bayforest Capital Ltd lifted its position in Synovus Financial by 12.0% during the third quarter. Bayforest Capital Ltd now owns 3,750 shares of the bank’s stock valued at $184,000 after buying an additional 403 shares during the period. Finally, EJF Capital LLC boosted its holdings in shares of Synovus Financial by 2.4% during the 2nd quarter. EJF Capital LLC now owns 18,835 shares of the bank’s stock valued at $975,000 after buying an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Price Performance

Shares of SNV opened at $50.51 on Monday. Synovus Financial Corp. has a twelve month low of $35.94 and a twelve month high of $61.06. The company has a market capitalization of $7.01 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The firm has a 50 day moving average of $50.82 and a 200 day moving average of $49.46. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNV. Barclays increased their price target on shares of Synovus Financial from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Royal Bank Of Canada cut their price objective on shares of Synovus Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. DA Davidson reaffirmed a “buy” rating and set a $63.00 target price on shares of Synovus Financial in a research note on Thursday, October 16th. Stephens lowered their target price on shares of Synovus Financial from $54.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on Synovus Financial from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Synovus Financial has an average rating of “Hold” and an average price target 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.