Synovus Financial Corp. (NYSE:SNV) has been assigned an average rating of “Buy” from the seventeen research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $42.75.
A number of equities analysts recently commented on the stock. Hovde Group upgraded shares of Synovus Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $42.00 in a research report on Tuesday, August 27th. SunTrust Banks decreased their target price on shares of Synovus Financial from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. ValuEngine upgraded shares of Synovus Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. Raymond James decreased their target price on shares of Synovus Financial from $44.00 to $42.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, June 18th. Finally, Stephens restated a “buy” rating and issued a $42.00 price objective on shares of Synovus Financial in a research report on Friday.
In other Synovus Financial news, VP Mark G. Holladay sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.72, for a total value of $178,600.00. Following the transaction, the vice president now owns 60,289 shares in the company, valued at $2,153,523.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new position in shares of Synovus Financial in the second quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new position in shares of Synovus Financial in the second quarter valued at about $33,000. KBC Group NV purchased a new position in shares of Synovus Financial in the second quarter valued at about $40,000. Doyle Wealth Management purchased a new position in shares of Synovus Financial in the second quarter valued at about $61,000. Finally, Anderson Fisher LLC purchased a new position in shares of Synovus Financial in the second quarter valued at about $82,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.
NYSE:SNV traded up $0.95 during trading hours on Friday, reaching $34.67. The company’s stock had a trading volume of 10,272 shares, compared to its average volume of 1,377,291. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.03 and a beta of 1.34. The firm has a 50-day simple moving average of $35.60 and a 200-day simple moving average of $35.23. Synovus Financial has a 1 year low of $29.93 and a 1 year high of $45.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.94 and a current ratio of 0.94.
Synovus Financial (NYSE:SNV) last issued its earnings results on Tuesday, July 16th. The bank reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. The company had revenue of $487.90 million for the quarter, compared to analysts’ expectations of $482.13 million. Synovus Financial had a net margin of 24.15% and a return on equity of 15.11%. The firm’s revenue was up 36.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Equities analysts anticipate that Synovus Financial will post 3.99 earnings per share for the current fiscal year.
The company also recently disclosed a — dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 19th were given a $0.30 dividend. This represents a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, September 18th. Synovus Financial’s payout ratio is 32.97%.
About Synovus Financial
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
Further Reading: Net Margin
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