Synovus Financial Corp. (SNV) Given Consensus Rating of “Hold” by Analysts
Synovus Financial Corp. (NYSE:SNV) has earned an average recommendation of “Hold” from the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $45.36.
Several research analysts have recently issued reports on SNV shares. Robert W. Baird reiterated a “hold” rating and issued a $40.00 target price on shares of Synovus Financial Corp. in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. BidaskClub downgraded shares of Synovus Financial Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $42.00 target price (up previously from $41.00) on shares of Synovus Financial Corp. in a research note on Saturday, September 16th. Finally, Royal Bank Of Canada started coverage on shares of Synovus Financial Corp. in a research note on Monday, July 17th. They issued an “outperform” rating and a $51.00 target price on the stock.
Shares of Synovus Financial Corp. (SNV) opened at $47.08 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5,629.21, a P/E ratio of 19.95, a PEG ratio of 2.38 and a beta of 1.13.
Synovus Financial Corp. (NYSE:SNV) last issued its earnings results on Tuesday, October 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $398.01 million for the quarter, compared to the consensus estimate of $331.27 million. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. equities analysts anticipate that Synovus Financial Corp. will post 2.48 earnings per share for the current fiscal year.
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In other news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total transaction of $462,900.00. Following the completion of the transaction, the executive vice president now directly owns 43,488 shares of the company’s stock, valued at $2,013,059.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Allen J. Gula sold 2,125 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares of the company’s stock, valued at $3,418,348.71. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Synovus Financial Corp. by 107.3% during the third quarter. BNP Paribas Arbitrage SA now owns 235,652 shares of the bank’s stock valued at $10,854,000 after purchasing an additional 121,962 shares during the last quarter. Alps Advisors Inc. purchased a new stake in Synovus Financial Corp. during the third quarter valued at approximately $502,000. Principal Financial Group Inc. increased its holdings in Synovus Financial Corp. by 0.7% during the third quarter. Principal Financial Group Inc. now owns 519,479 shares of the bank’s stock valued at $23,927,000 after buying an additional 3,512 shares during the last quarter. Prudential Financial Inc. increased its holdings in Synovus Financial Corp. by 0.8% during the third quarter. Prudential Financial Inc. now owns 867,017 shares of the bank’s stock valued at $39,935,000 after buying an additional 6,830 shares during the last quarter. Finally, Csenge Advisory Group purchased a new stake in Synovus Financial Corp. during the third quarter valued at approximately $287,000. 79.14% of the stock is owned by hedge funds and other institutional investors.
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.
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