Synovus Financial Corp. (NYSE:SNV) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Synovus Financial Corp. (NYSE:SNV) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.44.

Several analysts have recently commented on the stock. DA Davidson raised their target price on shares of Synovus Financial from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Morgan Stanley lifted their price objective on Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Synovus Financial in a research note on Thursday, January 16th. Evercore ISI lifted their price target on Synovus Financial from $48.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd.

Institutional Investors Weigh In On Synovus Financial

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Synovus Financial by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,754 shares of the bank’s stock worth $167,000 after buying an additional 229 shares during the last quarter. Montgomery Investment Management Inc. lifted its position in Synovus Financial by 0.6% during the 4th quarter. Montgomery Investment Management Inc. now owns 42,493 shares of the bank’s stock worth $2,177,000 after acquiring an additional 235 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in shares of Synovus Financial by 3.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 7,941 shares of the bank’s stock valued at $407,000 after purchasing an additional 241 shares during the period. Dana Investment Advisors Inc. grew its stake in shares of Synovus Financial by 0.7% during the second quarter. Dana Investment Advisors Inc. now owns 35,759 shares of the bank’s stock valued at $1,437,000 after acquiring an additional 254 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Synovus Financial by 0.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 103,480 shares of the bank’s stock valued at $5,301,000 after purchasing an additional 270 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Synovus Financial Stock Down 1.5 %

SNV stock opened at $56.00 on Friday. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.17 and a beta of 1.39. The company has a fifty day moving average price of $53.86 and a 200 day moving average price of $49.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. Synovus Financial has a 12 month low of $33.44 and a 12 month high of $59.92.

Synovus Financial (NYSE:SNV) last announced its earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business had revenue of $580.58 million during the quarter, compared to analysts’ expectations of $566.83 million. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. Sell-side analysts expect that Synovus Financial will post 4.89 earnings per share for the current year.

Synovus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.71%. Synovus Financial’s dividend payout ratio (DPR) is 49.84%.

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.