Synovus Financial Corp. (NYSE:SNV)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Sanford C. Bernstein in a research report issued on Saturday. They presently have a $42.00 target price on the bank’s stock, up from their previous target price of $41.00. Sanford C. Bernstein’s target price points to a potential downside of 2.37% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Robert W. Baird reaffirmed a “hold” rating and issued a $40.00 target price on shares of Synovus Financial Corp. in a research note on Friday, August 25th. Stephens set a $46.00 target price on shares of Synovus Financial Corp. and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, BidaskClub downgraded shares of Synovus Financial Corp. from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Synovus Financial Corp. has a consensus rating of “Hold” and a consensus target price of $42.27.

Shares of Synovus Financial Corp. (NYSE:SNV) opened at 43.02 on Friday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 19.54 and a beta of 1.12. The company’s 50 day moving average is $42.49 and its 200 day moving average is $42.35. 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 announced its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $319.80 million for 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%. Synovus Financial Corp.’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. Equities research analysts predict that Synovus Financial Corp. will post $2.46 earnings per share for the current year.

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In other Synovus Financial Corp. news, EVP Curtis J. Perry sold 7,062 shares of Synovus Financial Corp. stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $43.86, for a total transaction of $309,739.32. Following the transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at $2,633,266.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin Joseph Howard sold 7,000 shares of Synovus Financial Corp. stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 46,490 shares in the company, valued at $2,016,271.30. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Balentine LLC raised its stake in shares of Synovus Financial Corp. by 0.3% during the first quarter. Balentine LLC now owns 3,108 shares of the bank’s stock worth $128,000 after acquiring an additional 9 shares in the last quarter. TLP Group LLC purchased a new position in shares of Synovus Financial Corp. during the second quarter worth approximately $145,000. Meeder Asset Management Inc. purchased a new position in shares of Synovus Financial Corp. during the first quarter worth approximately $135,000. Advisory Services Network LLC raised its stake in shares of Synovus Financial Corp. by 17.8% during the second quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock worth $152,000 after acquiring an additional 519 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Synovus Financial Corp. by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock worth $145,000 after acquiring an additional 622 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

About Synovus Financial Corp.

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.

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

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