Synovus Financial Corp. (NYSE:SNV) has received a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $43.30.

Several equities research analysts recently issued reports on the stock. Barclays PLC restated an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Synovus Financial Corp. in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Stephens reiterated a “buy” rating and issued a $46.00 price target on shares of Synovus Financial Corp. in a research report on Wednesday, July 19th. Royal Bank Of Canada initiated coverage on shares of Synovus Financial Corp. in a research report on Monday, July 17th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, BidaskClub downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th.

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Shares of Synovus Financial Corp. (NYSE SNV) opened at 47.11 on Wednesday. The company has a 50 day moving average of $43.65 and a 200-day moving average of $42.80. The company has a market cap of $5.72 billion, a PE ratio of 21.39 and a beta of 1.10. Synovus Financial Corp. has a 12-month low of $31.41 and a 12-month high of $47.32.

Synovus Financial Corp. (NYSE:SNV) last issued its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The company had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. During the same quarter last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Synovus Financial Corp. will post $2.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 21st were given a $0.15 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $0.60 annualized dividend and a yield of 1.27%. Synovus Financial Corp.’s payout ratio is presently 27.15%.

In other Synovus Financial Corp. news, EVP Curtis J. Perry sold 7,062 shares of the stock in a transaction that occurred 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 directly owns 60,038 shares in the company, valued at $2,633,266.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin Joseph Howard sold 7,000 shares of the 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 completion of the transaction, the executive vice president now owns 46,490 shares in the company, valued at $2,016,271.30. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Balentine LLC raised its position in shares of Synovus Financial Corp. by 0.4% during the 2nd quarter. Balentine LLC now owns 3,120 shares of the bank’s stock valued at $138,000 after purchasing an additional 12 shares during the period. Keel Point LLC raised its position in shares of Synovus Financial Corp. by 0.3% during the 1st quarter. Keel Point LLC now owns 5,761 shares of the bank’s stock valued at $236,000 after purchasing an additional 17 shares during the period. Teacher Retirement System of Texas raised its position in shares of Synovus Financial Corp. by 0.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,820 shares of the bank’s stock valued at $434,000 after purchasing an additional 84 shares during the period. M&T Bank Corp raised its position in shares of Synovus Financial Corp. by 1.3% during the 2nd quarter. M&T Bank Corp now owns 7,288 shares of the bank’s stock valued at $322,000 after purchasing an additional 91 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of Synovus Financial Corp. by 1.1% during the 2nd quarter. Capstone Asset Management Co. now owns 9,040 shares of the bank’s stock valued at $400,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 77.87% of the company’s stock.

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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