Synovus Financial Corp. (NYSE:SNV) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other research firms also recently weighed in on SNV. Jefferies Group LLC reissued a “hold” rating and issued a $47.00 target price on shares of Synovus Financial Corp. in a report on Sunday. Zacks Investment Research downgraded Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Evercore ISI downgraded Synovus Financial Corp. to a “buy” rating in a report on Friday, March 3rd. Bank of America Corporation raised Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Thursday, May 11th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $44.00 target price (up from $42.00) on shares of Synovus Financial Corp. in a report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Synovus Financial Corp. has a consensus rating of “Hold” and an average target price of $38.81.

Analyst Recommendations for Synovus Financial Corp. (NYSE:SNV)

Synovus Financial Corp. (SNV) traded down 0.14% during midday trading on Thursday, reaching $43.82. The company’s stock had a trading volume of 485,139 shares. The stock’s 50-day moving average price is $42.10 and its 200 day moving average price is $41.52. The firm has a market capitalization of $5.36 billion, a PE ratio of 21.25 and a beta of 1.13. Synovus Financial Corp. has a 1-year low of $26.90 and a 1-year high of $44.44.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings data on Tuesday, April 18th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The business had revenue of $311.77 million during the quarter, compared to analysts’ expectations of $303.05 million. Synovus Financial Corp. had a return on equity of 9.50% and a net margin of 20.04%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. Equities analysts anticipate that Synovus Financial Corp. will post $2.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, June 13th. Synovus Financial Corp.’s dividend payout ratio is presently 28.99%.

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In other Synovus Financial Corp. news, EVP D Wayne Akins, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $42.96, for a total transaction of $150,360.00. Following the completion of the sale, the executive vice president now directly owns 34,994 shares of the company’s stock, valued at approximately $1,503,342.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Barton Singleton sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $41.96, for a total value of $440,580.00. Following the sale, the executive vice president now directly owns 58,781 shares of the company’s stock, valued at $2,466,450.76. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in Synovus Financial Corp. during the first quarter valued at approximately $120,000. Balentine LLC increased its stake in Synovus Financial Corp. by 0.3% in the first quarter. Balentine LLC now owns 3,108 shares of the bank’s stock valued at $128,000 after buying an additional 9 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Synovus Financial Corp. by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,232 shares of the bank’s stock valued at $132,000 after buying an additional 297 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Synovus Financial Corp. during the first quarter valued at approximately $135,000. Finally, PNC Financial Services Group Inc. increased its stake in Synovus Financial Corp. by 21.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock valued at $145,000 after buying an additional 622 shares in the last quarter. 79.03% of the stock is owned by hedge funds and other institutional investors.

Synovus Financial Corp. Company Profile

Synovus Financial Corp. is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

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