Synovus Financial Corp. Short Interest Down 79.0% in May (SNV)
Synovus Financial Corp. (NYSE:SNV) was the target of a significant drop in short interest in the month of May. As of May 30th, there was short interest totalling 3,718,867 shares, a drop of 79.0% from the May 15th total of 17,736,205 shares, Analyst RN reports. Currently, 2.7% of the shares of the company are sold short. Based on an average trading volume of 5,658,395 shares, the days-to-cover ratio is presently 0.7 days.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Synovus Financial Corp. in a research note on Thursday, June 19th. They now have a $26.00 price target on the stock. Separately, analysts at Drexel Hamilton upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 17th. Finally, analysts at Morgan Stanley upgraded shares of Synovus Financial Corp. to an “outperform” rating in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.03.
Shares of Synovus Financial Corp. (NYSE:SNV) opened at 24.39 on Tuesday. Synovus Financial Corp. has a 52-week low of $18.76 and a 52-week high of $26.53. The stock has a 50-day moving average of $23.35 and a 200-day moving average of $23.84. The company has a market cap of $3.390 billion and a price-to-earnings ratio of 21.95.
Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.05. During the same quarter last year, the company posted $0.02 earnings per share. On average, analysts predict that Synovus Financial Corp. will post $1.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Thursday, June 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, June 17th.
Synovus Financial Corp. (NYSE:SNV) is a financial services and a bank holding company.
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