Synovus Financial Corp. (SNV) Receives Average Recommendation of “Hold” from Analysts
Shares of Synovus Financial Corp. (NYSE:SNV) have earned an average rating of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $51.92.
Several analysts recently commented on SNV shares. Zacks Investment Research upgraded shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, September 25th. Stephens lowered shares of Synovus Financial from an “overweight” rating to an “equal” rating and set a $31.00 price target on the stock. in a research report on Tuesday, July 24th. Barclays dropped their price target on shares of Synovus Financial from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 3rd. Morgan Stanley dropped their price target on shares of Synovus Financial from $57.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 31st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $55.00 price target on shares of Synovus Financial in a research report on Tuesday, October 23rd.
In related news, EVP Allen J. Gula sold 1,400 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $37.29, for a total transaction of $52,206.00. Following the transaction, the executive vice president now directly owns 72,283 shares in the company, valued at $2,695,433.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth W. Camp purchased 3,000 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were acquired at an average price of $36.97 per share, for a total transaction of $110,910.00. Following the completion of the transaction, the director now directly owns 16,718 shares of the company’s stock, valued at approximately $618,064.46. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.
SNV stock traded down $0.95 during midday trading on Thursday, hitting $35.97. 42,370 shares of the stock traded hands, compared to its average volume of 2,088,706. The firm has a market cap of $4.33 billion, a PE ratio of 14.16, a P/E/G ratio of 1.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.97 and a current ratio of 0.97. Synovus Financial has a 1-year low of $36.14 and a 1-year high of $57.40.
Synovus Financial (NYSE:SNV) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. The company had revenue of $363.29 million for the quarter, compared to analyst estimates of $368.24 million. Synovus Financial had a net margin of 22.41% and a return on equity of 15.05%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Research analysts predict that Synovus Financial will post 3.65 earnings per share for the current fiscal year.
Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise cash management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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