Synovus Financial Corp. (NYSE:SNV) Given Consensus Rating of “Moderate Buy” by Analysts

Synovus Financial Corp. (NYSE:SNV) has received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $56.56.

SNV has been the topic of several recent analyst reports. Stephens decreased their price target on Synovus Financial from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada decreased their price target on Synovus Financial from $64.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group initiated coverage on Synovus Financial in a research note on Wednesday, May 21st. They issued a “hold” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Synovus Financial from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Raymond James lowered Synovus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Colonial Trust Co SC boosted its holdings in Synovus Financial by 554.4% in the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank’s stock valued at $30,000 after purchasing an additional 499 shares during the last quarter. Keystone Financial Group Inc. purchased a new position in Synovus Financial in the fourth quarter valued at about $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Synovus Financial in the first quarter valued at about $47,000. Jones Financial Companies Lllp boosted its holdings in Synovus Financial by 72.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock valued at $56,000 after purchasing an additional 461 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Synovus Financial by 69.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after buying an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Stock Up 0.6%

NYSE SNV opened at $49.46 on Friday. The stock’s 50 day moving average is $44.87 and its 200 day moving average is $49.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial has a 12 month low of $35.81 and a 12 month high of $59.92. The stock has a market cap of $6.88 billion, a PE ratio of 16.22, a P/E/G ratio of 1.11 and a beta of 1.18.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million for the quarter, compared to the consensus estimate of $572.35 million. Research analysts predict that Synovus Financial will post 4.89 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 19th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, June 18th. Synovus Financial’s dividend payout ratio is currently 43.70%.

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.