Synovus Financial (NYSE:SNV) Stock Rating Reaffirmed by Stephens

Synovus Financial (NYSE:SNV)‘s stock had its “equal weight” rating reissued by research analysts at Stephens in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $38.00 target price on the bank’s stock. Stephens’ price target would indicate a potential downside of 2.84% from the company’s current price.

A number of other research analysts have also recently commented on SNV. Piper Sandler lowered their target price on Synovus Financial from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada reduced their target price on shares of Synovus Financial from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. DA Davidson lifted their price target on shares of Synovus Financial from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $37.00 target price on shares of Synovus Financial in a report on Monday, April 22nd. Finally, Barclays dropped their price target on Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.50.

Synovus Financial Stock Up 1.9 %

Shares of NYSE:SNV opened at $39.11 on Tuesday. Synovus Financial has a 1 year low of $24.40 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50-day moving average is $37.99 and its 200 day moving average is $35.51. The company has a market cap of $5.73 billion, a PE ratio of 13.39, a P/E/G ratio of 4.48 and a beta of 1.41.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). The business had revenue of $537.73 million during the quarter, compared to analysts’ expectations of $547.62 million. Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. Sell-side analysts anticipate that Synovus Financial will post 3.76 EPS for the current year.

Institutional Investors Weigh In On Synovus Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock valued at $27,000 after buying an additional 557 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Synovus Financial during the 4th quarter valued at about $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Synovus Financial during the 4th quarter valued at about $30,000. First Command Advisory Services Inc. purchased a new stake in shares of Synovus Financial during the 3rd quarter valued at about $33,000. Finally, American National Bank bought a new position in shares of Synovus Financial in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.

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.