Shares of Synovus Financial Corp. (NYSE:SNV) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $47.30.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $53.00 price objective on shares of Synovus Financial in a report on Friday, December 22nd. Robert W. Baird reissued an “average” rating and issued a $47.00 price target on shares of Synovus Financial in a report on Wednesday, January 3rd. SunTrust Banks reissued a “buy” rating and issued a $54.00 price target on shares of Synovus Financial in a report on Wednesday, November 29th. Finally, Barclays increased their price target on shares of Synovus Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd.
Shares of Synovus Financial (NYSE SNV) opened at $49.88 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $5,980.00, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.88 and a beta of 1.13. Synovus Financial has a 1-year low of $37.95 and a 1-year high of $51.29.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, December 20th. Synovus Financial’s dividend payout ratio (DPR) is presently 24.19%.
In other news, Director Philip W. Tomlinson sold 1,052 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $48.82, for a total value of $51,358.64. Following the completion of the transaction, the director now owns 27,139 shares in the company, valued at approximately $1,324,925.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Allen J. Gula sold 2,125 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 72,561 shares of the company’s stock, valued at approximately $3,418,348.71. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Balentine LLC increased its position in shares of Synovus Financial by 0.4% during the 2nd quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after purchasing an additional 12 shares in the last quarter. TLP Group LLC acquired a new stake in shares of Synovus Financial during the 2nd quarter worth about $145,000. Advisory Services Network LLC increased its position in shares of Synovus Financial by 17.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock worth $152,000 after purchasing an additional 519 shares in the last quarter. Patten Group Inc. increased its position in shares of Synovus Financial by 61.1% during the 3rd quarter. Patten Group Inc. now owns 5,729 shares of the bank’s stock worth $164,000 after purchasing an additional 2,172 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Synovus Financial during the 4th quarter worth about $171,000. Institutional investors own 77.33% of the company’s stock.
Synovus Financial 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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