Synovus Financial Corp. (NYSE:SNV) – Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for shares of Synovus Financial Corp. in a report issued on Thursday. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $0.66 per share for the quarter, up from their previous estimate of $0.64. Jefferies Group has a “Hold” rating and a $47.00 price target on the stock. Jefferies Group also issued estimates for Synovus Financial Corp.’s Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.55 EPS and FY2018 earnings at $2.85 EPS.

Several other brokerages have also recently weighed in on SNV. ValuEngine upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Thursday, April 20th. Barclays PLC reaffirmed an “equal weight” rating and set a $44.00 price target (up previously from $42.00) on shares of Synovus Financial Corp. in a research report on Saturday, April 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price target on shares of Synovus Financial Corp. in a research report on Friday, May 19th. Finally, Bank of America Corporation raised Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $42.78.

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Shares of Synovus Financial Corp. (NYSE:SNV) opened at 43.82 on Friday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 21.25 and a beta of 1.13. Synovus Financial Corp. has a 52-week low of $29.74 and a 52-week high of $45.38. The company has a 50 day moving average price of $43.54 and a 200-day moving average price of $42.13.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $319.80 million for the quarter, compared to the consensus estimate of $317.81 million. Synovus Financial Corp. had a return on equity of 9.88% and a net margin of 20.68%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share.

A number of institutional investors have recently bought and sold shares of SNV. State Treasurer State of Michigan increased its position in shares of Synovus Financial Corp. by 1.4% in the second quarter. State Treasurer State of Michigan now owns 50,405 shares of the bank’s stock worth $2,230,000 after buying an additional 700 shares in the last quarter. First Quadrant L P CA increased its stake in Synovus Financial Corp. by 119.9% in the second quarter. First Quadrant L P CA now owns 231,574 shares of the bank’s stock valued at $10,245,000 after buying an additional 126,274 shares during the period. Aperio Group LLC increased its stake in Synovus Financial Corp. by 9.8% in the second quarter. Aperio Group LLC now owns 42,478 shares of the bank’s stock valued at $1,879,000 after buying an additional 3,782 shares during the period. Alpha Windward LLC increased its stake in Synovus Financial Corp. by 1,623.9% in the second quarter. Alpha Windward LLC now owns 11,395 shares of the bank’s stock valued at $504,000 after buying an additional 10,734 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Synovus Financial Corp. by 3.2% in the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the bank’s stock valued at $1,411,000 after buying an additional 1,000 shares during the period. 77.53% of the stock is currently owned by institutional investors.

In other Synovus Financial Corp. news, EVP D Wayne Akins, Jr. sold 3,500 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $42.96, for a total transaction of $150,360.00. Following the transaction, the executive vice president now owns 34,994 shares of the company’s stock, valued at $1,503,342.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.37%. Synovus Financial Corp.’s dividend payout ratio (DPR) is currently 27.15%.

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.

Earnings History and Estimates for Synovus Financial Corp. (NYSE:SNV)

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