A number of research firms have changed their ratings and price targets for Synovus Financial Corp. (NYSE: SNV):

  • 9/14/2017 – Synovus Financial Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Synovus have outperformed the industry year to date. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. 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. Though escalating expenses remain a concern, the margin pressure also seems to be easing on the back of gradually improving rate scenario.”
  • 9/12/2017 – Synovus Financial Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $48.00 price target on the stock. According to Zacks, “Shares of Synovus outperformed the industry year to date. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. 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. Though escalating expenses remain a concern, the margin pressure also seems to be easing on the back of gradually improving rate scenario.”
  • 9/7/2017 – Synovus Financial Corp. was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/25/2017 – Synovus Financial Corp. had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $40.00 price target on the stock.
  • 8/15/2017 – Synovus Financial Corp. was given a new $46.00 price target on by analysts at Stephens. They now have a “buy” rating on the stock.
  • 8/14/2017 – Synovus Financial Corp. was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 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.

Synovus Financial Corp. (NYSE:SNV) traded down 1.18% during trading on Thursday, reaching $42.76. The company had a trading volume of 511,346 shares. The firm’s 50 day moving average is $42.56 and its 200 day moving average is $42.34. The company has a market capitalization of $5.20 billion, a PE ratio of 19.42 and a beta of 1.12. Synovus Financial Corp. has a one year low of $31.41 and a one year high of $45.38.

Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business had revenue of $319.80 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts predict that Synovus Financial Corp. will post $2.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.40%. Synovus Financial Corp.’s payout ratio is currently 27.15%.

In related news, 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 $2,016,271.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Curtis J. Perry sold 7,062 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $43.86, for a total transaction of $309,739.32. Following the transaction, the executive vice president now owns 60,038 shares of the company’s stock, valued at approximately $2,633,266.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

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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