Synovus Financial Corp. (NYSE:SNV – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $41.38.
Several equities research analysts have recently weighed in on SNV shares. Evercore ISI increased their price target on Synovus Financial from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Bank of America lowered their price target on Synovus Financial from $44.00 to $40.00 and set a “buy” rating for the company in a report on Friday, April 19th. Raymond James lowered Synovus Financial from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 18th. Piper Sandler cut their price target on Synovus Financial from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Finally, Royal Bank of Canada lowered their price objective on shares of Synovus Financial from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, April 19th.
Check Out Our Latest Research Report on SNV
Institutional Inflows and Outflows
Synovus Financial Price Performance
NYSE:SNV opened at $36.40 on Thursday. The company has a market capitalization of $5.33 billion, a P/E ratio of 12.47, a P/E/G ratio of 4.20 and a beta of 1.40. Synovus Financial has a 12 month low of $24.40 and a 12 month high of $40.92. The business’s 50-day moving average is $37.89 and its 200 day moving average is $35.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45.
Synovus Financial (NYSE:SNV – Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). The business had revenue of $537.73 million during the quarter, compared to the consensus estimate of $547.62 million. Synovus Financial had a net margin of 13.29% and a return on equity of 12.93%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. On average, equities research analysts forecast that Synovus Financial will post 3.77 earnings per share for the current fiscal year.
Synovus Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.18%. The ex-dividend date was Wednesday, March 20th. Synovus Financial’s dividend payout ratio is presently 52.05%.
Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.
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