Synovus Financial Corp. (NYSE:SNV) Given Average Recommendation of “Moderate Buy” by Analysts
Shares of Synovus Financial Corp. (NYSE:SNV – Get Rating) have received an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $50.50.
A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Synovus Financial from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Wells Fargo & Company dropped their price target on shares of Synovus Financial from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 21st. Raymond James dropped their price target on shares of Synovus Financial from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. TheStreet upgraded shares of Synovus Financial from a “c+” rating to a “b” rating in a report on Friday, November 4th. Finally, StockNews.com initiated coverage on shares of Synovus Financial in a report on Wednesday, October 12th. They set a “hold” rating on the stock.
Synovus Financial Trading Down 0.2 %
Synovus Financial stock opened at $42.45 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $39.96 and a two-hundred day moving average price of $39.69. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 5.43 and a beta of 1.34. Synovus Financial has a 52-week low of $34.15 and a 52-week high of $54.40.
Synovus Financial (NYSE:SNV – Get Rating) last posted its earnings results on Thursday, October 20th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.06. Synovus Financial had a net margin of 33.25% and a return on equity of 17.83%. During the same quarter last year, the business posted $1.20 earnings per share. Sell-side analysts expect that Synovus Financial will post 4.85 earnings per share for the current year.
Synovus Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.34 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.20%. Synovus Financial’s dividend payout ratio is 27.70%.
Insider Activity at Synovus Financial
In other Synovus Financial news, EVP Allan E. Kamensky sold 663 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $43.80, for a total transaction of $29,039.40. Following the sale, the executive vice president now directly owns 5,090 shares in the company, valued at approximately $222,942. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.55% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Synovus Financial
Hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi acquired a new position in Synovus Financial in the second quarter valued at about $25,000. Private Capital Group LLC boosted its holdings in Synovus Financial by 957.4% in the second quarter. Private Capital Group LLC now owns 719 shares of the bank’s stock valued at $26,000 after acquiring an additional 651 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in Synovus Financial in the first quarter valued at approximately $30,000. CWM LLC boosted its holdings in Synovus Financial by 93.7% in the third quarter. CWM LLC now owns 1,071 shares of the bank’s stock valued at $40,000 after acquiring an additional 518 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Synovus Financial during the 2nd quarter worth approximately $48,000. 80.41% of the stock is owned by institutional investors.
Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and retail banking products and services. It operates through three segments: Community Banking, Wholesale Banking, and Financial Management Services. The company’s commercial banking services include treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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