Stephens Issues Pessimistic Forecast for Synovus Financial (NYSE:SNV) Stock Price

Synovus Financial (NYSE:SNV) had its target price dropped by investment analysts at Stephens from $52.00 to $46.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Stephens’ price target would suggest a potential upside of 10.90% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Citigroup lifted their price target on shares of Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Raymond James downgraded shares of Synovus Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Barclays cut their target price on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price target on Synovus Financial from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Synovus Financial has a consensus rating of “Moderate Buy” and an average target price of $56.17.

Synovus Financial Trading Up 3.4 %

Shares of NYSE SNV opened at $41.48 on Monday. The firm’s 50 day moving average price is $46.13 and its 200-day moving average price is $50.70. Synovus Financial has a 52-week low of $35.51 and a 52-week high of $59.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $5.85 billion, a PE ratio of 13.60, a P/E/G ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.19. The business had revenue of $573.24 million for the quarter, compared to analysts’ expectations of $572.35 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. On average, equities research analysts expect that Synovus Financial will post 4.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Synovus Financial during the fourth quarter valued at about $3,798,000. Nordea Investment Management AB grew its position in shares of Synovus Financial by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 276,863 shares of the bank’s stock worth $14,261,000 after purchasing an additional 10,109 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Synovus Financial during the 4th quarter valued at approximately $1,504,000. SG Americas Securities LLC lifted its holdings in Synovus Financial by 11.0% in the 4th quarter. SG Americas Securities LLC now owns 12,547 shares of the bank’s stock worth $643,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Synovus Financial by 4.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 51,357 shares of the bank’s stock worth $2,631,000 after purchasing an additional 2,166 shares during the period. 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.