A number of firms have modified their ratings and price targets on shares of Synovus Financial Corp. (NYSE: SNV) recently:

  • 7/28/2017 – Synovus Financial Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Synovus’ shares outperformed the industry over the last six months. The company’s second-quarter 2017 earnings beat the Zacks Consensus Estimate. Rising revenues aided by strong loans & deposits balances were recorded. We believe the company’s organic and inorganic growth strategies position the company well for the future. Further, Synovus’ focus on balance-sheet growth encourages us. The company’s impressive capital deployment activities reflect its strong capital position. Also, the margin pressure seems to be easing on the back of gradually improving rate scenario. Further, expectations of lesser regulations are likely to act as a tailwind for the company in the medium term. However, escalating expenses remain a concern.”
  • 7/27/2017 – Synovus Financial Corp. was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/19/2017 – Synovus Financial Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. According to Zacks, “Synovus’ shares outperformed the Zacks categorized Southeast Banks industry over the last six months. The company’s second-quarter 2017 earnings beat the Zacks Consensus Estimate on high revenues. Strong loans & deposits growth were also recorded. However, escalating expenses and provisions remain a concern. We believe the company’s organic and inorganic growth strategies position the company well for the future. Further, Synovus’ focus on balance-sheet growth encourages us. The company’s impressive capital deployment activities reflect its strong capital position. Also, the margin pressure seems to be easing on the back of gradually improving rate scenario. Further, expectations of lesser regulations are likely to act as a tailwind for the company in the medium term.”
  • 7/19/2017 – Synovus Financial Corp. had its “buy” rating reaffirmed by analysts at Stephens. They now have a $46.00 price target on the stock.
  • 7/19/2017 – Synovus Financial Corp. was given a new $48.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 7/17/2017 – Synovus Financial Corp. is now covered by analysts at Royal Bank Of Canada. They set an “outperform” rating and a $51.00 price target on the stock.
  • 7/16/2017 – Synovus Financial Corp. was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/14/2017 – Synovus Financial Corp. had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $47.00 price target on the stock.
  • 7/13/2017 – Synovus Financial Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Synovus’ shares outperformed the Zacks categorized Southeast Banks industry over the last six months. The company’s organic and inorganic growth strategies position it well for the future. Further, Synovus’ focus on balance sheet growth also encourages us. The company’s impressive capital deployment activities reflect its strong capital position. Also, the margin pressure seems to be easing on the back of gradually improving rate scenario. Further, expectations of lesser regulations are likely to act as a tailwind for the company in the medium term. However, escalating expenses pose near-term concerns. Also, the financials remain exposed to the downward trend in Synovus’ profitability metrics.”
  • 7/12/2017 – Synovus Financial Corp. had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $46.00 price target on the stock, up previously from $44.00.
  • 6/15/2017 – Synovus Financial Corp. was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 6/11/2017 – Synovus Financial Corp. had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $47.00 price target on the stock.

Shares of Synovus Financial Corp. (SNV) traded up 0.46% during mid-day trading on Monday, reaching $43.71. The company’s stock had a trading volume of 911,110 shares. The stock has a 50 day moving average of $43.90 and a 200-day moving average of $42.25. The stock has a market cap of $5.32 billion, a P/E ratio of 19.85 and a beta of 1.12. Synovus Financial Corp. has a one year low of $29.98 and a one year high of $45.38.

Synovus Financial Corp. (NYSE:SNV) last announced its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $319.80 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, equities research analysts expect that Synovus Financial Corp. will post $2.46 EPS for the current fiscal year.

In other news, EVP Kevin Joseph Howard sold 7,000 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $43.37, for a total transaction of $303,590.00. Following the sale, the executive vice president now owns 46,490 shares of the company’s stock, valued at $2,016,271.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Curtis J. Perry sold 7,062 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $43.86, for a total value of $309,739.32. Following the sale, the executive vice president now directly owns 60,038 shares in the company, valued at approximately $2,633,266.68. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

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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