Synovus Financial Corp. (SNV) Receives Consensus Rating of “Hold” from Brokerages
Shares of Synovus Financial Corp. (NYSE:SNV) have been assigned a consensus rating of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $44.00.
A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $39.00 target price on shares of Synovus Financial Corp. in a research note on Monday, April 3rd. ValuEngine upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Jefferies Group LLC reiterated a “hold” rating and set a $47.00 price target on shares of Synovus Financial Corp. in a report on Wednesday, April 5th. BidaskClub lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $46.00 price target (up previously from $44.00) on shares of Synovus Financial Corp. in a report on Wednesday, July 12th.
Synovus Financial Corp. (NYSE SNV) opened at 43.49 on Friday. Synovus Financial Corp. has a 52-week low of $29.74 and a 52-week high of $45.38. The firm has a market cap of $5.29 billion, a PE ratio of 19.75 and a beta of 1.13. The company’s 50 day moving average price is $43.90 and its 200 day moving average price is $42.21.
Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts predict that Synovus Financial Corp. will post $2.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $0.60 annualized dividend and a yield of 1.38%. Synovus Financial Corp.’s payout ratio is 27.15%.
COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/07/28/synovus-financial-corp-snv-receives-consensus-rating-of-hold-from-brokerages.html.
In related news, EVP Curtis J. Perry sold 7,062 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $43.86, for a total value of $309,739.32. Following the transaction, the executive vice president now owns 60,038 shares in the company, valued at $2,633,266.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kevin Joseph Howard sold 7,000 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the completion of the transaction, the executive vice president now owns 46,490 shares in the company, valued at approximately $2,016,271.30. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position 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 during the last quarter. GSA Capital Partners LLP bought a new position in shares of Synovus Financial Corp. during the fourth quarter valued at $254,000. Quadrature Capital Ltd bought a new position in shares of Synovus Financial Corp. during the fourth quarter valued at $609,000. Highbridge Capital Management LLC bought a new position in shares of Synovus Financial Corp. during the fourth quarter valued at $288,000. Finally, Copper Rock Capital Partners LLC raised its position in shares of Synovus Financial Corp. by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 613,027 shares of the bank’s stock valued at $25,367,000 after buying an additional 10,387 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
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.
Receive News & Ratings for Synovus Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.