SYNOVUS FINANCIAL CORP recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Synovus Financial Corp. is a financial services company based out of Columbus, Georgia. The company can trace its history back to a “simple act of kindness between a worker and an executive at a Columbus, Georgia textile mill.” When the worker’s dress became entangled in the factory machinery and spilled her money onto the floor, an executive offered to secure her money after she expressed that she felt that this was the safest place to keep her money. The same service would be extended to all the workers and, since 1888, the company has “remained committed to serving others, offering solutions, and building trusting relationships with team members, customers, and shareholders.” Synovus Financial Corp has grown from its humble inceptions to now have operations in five states in the Southeast including Georgia, Alabama, South Carolina, Florida, and Tennessee. The company has similarly expanded its network of operations to have over 29 locally branded divisions with 280 offices and over 400 ATMs. Synovus Financial Corp operates through four major sectors including Personal Banking, Business Banking, Corporate Banking, and Wealth Management, conducting business as the holding company for the similarly named Synovus Bank. The company currently offers a variety of services including cash management, capital market services, commercial loans, various demand and savings deposits, a variety of banking services, portfolio management, and investment advisory services, among others. Synovus Financial Corp invests most heavily in the finance sector, which alone makes up well over a third of its total asset allocations, and also invests in the information technology sector, which makes up another fifth of its allocations, consumer staples, health care, industrials, consumer discretionary, and utilities and telecommunications, among others to a lesser degree, in order of decreasing allocation. The company’s top holding in Total System Services Inc. alone makes up over 15% of its total holdings and Synovus Financial has a turnover rate of approximately 14%.
As of the latest 13F report, the guru’s equity portfolio contained 835 stocks valued at a total of $8.52Bil. The top holdings were GPN(10.65%), IWD(8.91%), and IWF(7.48%).
According to GuruFocus data, these were SYNOVUS FINANCIAL CORP’s top five trades of the quarter.
iShares 20 Year Treasury Bond ETF
SYNOVUS FINANCIAL CORP reduced their investment in NAS:TLT by 1,017,640 shares. The trade had a 1.43% impact on the equity portfolio. During the quarter, the stock traded for an average price of $117.54.
On 08/11/2022, iShares 20+ Year Treasury Bond ETF traded for a price of $114.535 per share and a market cap of $24.96Bil. The stock has returned -20.59% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
SPDR Portfolio Long Term Treasury ETF
The guru established a new position worth 3,443,094 shares in ARCA:SPTL, giving the stock a 1.34% weight in the equity portfolio. Shares traded for an average price of $33.8 during the quarter.
On 08/11/2022, SPDR Portfolio Long Term Treasury ETF traded for a price of $33.06 per share and a market cap of $6.25Bil. The stock has returned -19.70% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Global Payments Inc
During the quarter, SYNOVUS FINANCIAL CORP bought 634,733 shares of NYSE:GPN for a total holding of 8,202,771. The trade had a 0.82% impact on the equity portfolio. During the quarter, the stock traded for an average price of $126.61.
On 08/11/2022, Global Payments Inc traded for a price of $133.65 per share and a market cap of $36.96Bil. The stock has returned -20.76% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Global Payments Inc has a price-earnings ratio of 740.88, a price-book ratio of 1.57, a price-earnings-to-growth (PEG) ratio of 67.87, a EV-to-Ebitda ratio of 20.90 and a price-sales ratio of 4.31.
The price-to-GF Value ratio is 0.62, earning the stock a GF Value rank of 8.
SPDR Portfolio Intermediate Term Treasury ETF
The guru established a new position worth 2,157,216 shares in ARCA:SPTI, giving the stock a 0.75% weight in the equity portfolio. Shares traded for an average price of $29.48 during the quarter.
On 08/11/2022, SPDR Portfolio Intermediate Term Treasury ETF traded for a price of $29.605 per share and a market cap of $4.04Bil. The stock has returned -8.41% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Berkshire Hathaway Inc
The guru established a new position worth 123 shares in NYSE:BRK.A, giving the stock a 0.59% weight in the equity portfolio. Shares traded for an average price of $472090 during the quarter.
On 08/11/2022, Berkshire Hathaway Inc traded for a price of $444878.87 per share and a market cap of $653.60Bil. The stock has returned 1.68% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Berkshire Hathaway Inc has a price-earnings ratio of 8.01, a price-book ratio of 1.30, a price-earnings-to-growth (PEG) ratio of 0.26, a EV-to-Ebitda ratio of 6.29 and a price-sales ratio of 1.90.
The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 5.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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