Synovus Financial Corp. (NYSE:SNV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Synovus Financial Corp. (NYSE:SNV) has been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $56.00.

SNV has been the subject of several recent analyst reports. StockNews.com upgraded Synovus Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their price target on Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price target on Synovus Financial from $52.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays upped their price target on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upped their price target on Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st.

Hedge Funds Weigh In On Synovus Financial

Large investors have recently added to or reduced their stakes in the company. &PARTNERS acquired a new position in shares of Synovus Financial in the 2nd quarter worth approximately $284,000. Texas Permanent School Fund Corp raised its holdings in shares of Synovus Financial by 19.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 153,017 shares of the bank’s stock worth $6,150,000 after buying an additional 25,028 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Synovus Financial by 7.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank’s stock worth $6,525,000 after buying an additional 10,346 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Synovus Financial in the 3rd quarter worth approximately $1,264,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Synovus Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank’s stock worth $222,022,000 after buying an additional 147,599 shares in the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Synovus Financial Stock Performance

Shares of NYSE SNV opened at $54.69 on Friday. The business’s 50-day moving average price is $52.51 and its two-hundred day moving average price is $45.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.88. Synovus Financial has a one year low of $33.44 and a one year high of $59.92. The company has a market capitalization of $7.75 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.61 and a beta of 1.38.

Synovus Financial (NYSE:SNV) last issued its earnings results on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The firm had revenue of $564.72 million for the quarter, compared to the consensus estimate of $557.64 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Synovus Financial will post 4.37 earnings per share for the current fiscal year.

Synovus Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $1.52 annualized dividend and a yield of 2.78%. Synovus Financial’s dividend payout ratio (DPR) is 68.78%.

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.