Hanseatic Management Services Inc. Buys 327 Shares of Synovus Financial Corp. (NYSE:SNV)

Hanseatic Management Services Inc. increased its stake in Synovus Financial Corp. (NYSE:SNV) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,212 shares of the bank’s stock after buying an additional 327 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Synovus Financial were worth $543,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Synovus Financial during the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its stake in Synovus Financial by 87.2% during the third quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock valued at $33,000 after acquiring an additional 348 shares in the last quarter. Innealta Capital LLC bought a new stake in Synovus Financial during the 2nd quarter worth approximately $43,000. Abich Financial Wealth Management LLC boosted its holdings in Synovus Financial by 43.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank’s stock valued at $49,000 after purchasing an additional 371 shares during the period. Finally, Headlands Technologies LLC grew its position in shares of Synovus Financial by 404.8% during the 2nd quarter. Headlands Technologies LLC now owns 1,378 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,105 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNV has been the topic of a number of research analyst reports. StockNews.com upgraded Synovus Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on shares of Synovus Financial from $52.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Stephens lifted their target price on shares of Synovus Financial from $46.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Wells Fargo & Company lowered shares of Synovus Financial from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $48.00 to $46.00 in a report on Tuesday, October 1st. Finally, Evercore ISI upped their target price on shares of Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.24.

Synovus Financial Stock Performance

Shares of NYSE:SNV opened at $58.46 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37. Synovus Financial Corp. has a 12 month low of $26.76 and a 12 month high of $58.66. The company has a 50-day moving average price of $46.14 and a 200-day moving average price of $42.49.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The business had revenue of $564.72 million during the quarter, compared to analysts’ expectations of $557.64 million. During the same quarter last year, the business posted $0.84 EPS. The business’s revenue was up 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Synovus Financial Corp. will post 4.36 EPS for the current year.

Synovus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 19th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, September 19th. Synovus Financial’s payout ratio is currently 68.78%.

Synovus Financial Company 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.