Synovus Financial Corp. (SNV) Receives Consensus Rating of “Hold” from Brokerages

Synovus Financial Corp. (NYSE:SNV) has received an average rating of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.92.

Several equities research analysts have recently issued reports on SNV shares. Robert W. Baird reaffirmed a “hold” rating and set a $43.00 target price on shares of Synovus Financial in a research report on Friday, October 20th. Zacks Investment Research lowered Synovus Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. ValuEngine lowered Synovus Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. SunTrust Banks reaffirmed a “buy” rating and set a $54.00 target price on shares of Synovus Financial in a research report on Wednesday, November 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 target price on shares of Synovus Financial in a research report on Thursday, October 19th.

In related news, COO Allen J. Gula sold 2,450 shares of Synovus Financial stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $50.22, for a total value of $123,039.00. Following the completion of the sale, the chief operating officer now owns 70,111 shares of the company’s stock, valued at approximately $3,520,974.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Philip W. Tomlinson sold 1,052 shares of Synovus Financial stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $48.82, for a total value of $51,358.64. Following the completion of the sale, the director now directly owns 27,139 shares of the company’s stock, valued at approximately $1,324,925.98. The disclosure for this sale can be found here. In the last three months, insiders sold 8,502 shares of company stock valued at $425,198. 1.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SNV. Carillon Tower Advisers Inc. purchased a new stake in Synovus Financial in the 4th quarter worth about $107,998,000. Eagle Asset Management Inc. increased its holdings in Synovus Financial by 25.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,362,104 shares of the bank’s stock worth $156,270,000 after acquiring an additional 671,971 shares during the last quarter. APG Asset Management N.V. increased its holdings in Synovus Financial by 1,642.6% in the 4th quarter. APG Asset Management N.V. now owns 437,400 shares of the bank’s stock worth $17,462,000 after acquiring an additional 412,300 shares during the last quarter. EJF Capital LLC increased its holdings in Synovus Financial by 50.0% in the 3rd quarter. EJF Capital LLC now owns 900,002 shares of the bank’s stock worth $41,454,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Koch Industries Inc. purchased a new stake in Synovus Financial in the 2nd quarter worth about $283,000. 78.35% of the stock is owned by institutional investors.

Synovus Financial (NYSE:SNV) opened at $48.68 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.97 and a current ratio of 0.97. Synovus Financial has a 52 week low of $37.95 and a 52 week high of $52.08. The firm has a market capitalization of $5,820.00, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12.

Synovus Financial (NYSE:SNV) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. Synovus Financial had a return on equity of 11.20% and a net margin of 18.27%. The firm had revenue of $339.07 million during the quarter, compared to analyst estimates of $338.60 million. During the same period last year, the firm posted $0.54 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. equities research analysts anticipate that Synovus Financial will post 3.41 earnings per share for the current year.

Synovus Financial announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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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.

Analyst Recommendations for Synovus Financial (NYSE:SNV)

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