Shares of Synovus Financial Corp. (NYSE:SNV) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $35.59 and last traded at $36.55, with a volume of 54846 shares changing hands. The stock had previously closed at $35.93.

Several equities analysts have recently commented on the company. Morgan Stanley reduced their target price on Synovus Financial from $57.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 31st. Royal Bank of Canada reduced their target price on Synovus Financial to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $55.00 target price on shares of Synovus Financial in a research note on Tuesday, October 23rd. Barclays reduced their target price on Synovus Financial from $55.00 to $47.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 24th. Finally, Stephens reiterated a “hold” rating and set a $54.00 target price on shares of Synovus Financial in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Synovus Financial currently has a consensus rating of “Hold” and an average price target of $52.08.

The company has a market cap of $4.30 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.27 and a beta of 1.18. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.58.

Synovus Financial (NYSE:SNV) last released its 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. Synovus Financial had a return on equity of 15.05% and a net margin of 22.41%. The company had revenue of $363.29 million during the quarter, compared to analysts’ expectations of $368.24 million. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, analysts expect that Synovus Financial Corp. will post 3.65 EPS for the current year.

In other news, Director Elizabeth W. Camp acquired 3,000 shares of Synovus Financial stock in a transaction that occurred on Thursday, October 25th. The shares were purchased at an average cost of $36.97 per share, for a total transaction of $110,910.00. Following the completion of the purchase, the director now directly owns 16,718 shares of the company’s stock, valued at approximately $618,064.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin S. Blair acquired 750 shares of Synovus Financial stock in a transaction that occurred on Thursday, October 25th. The shares were purchased at an average price of $37.18 per share, for a total transaction of $27,885.00. Following the completion of the purchase, the chief financial officer now directly owns 53,986 shares of the company’s stock, valued at $2,007,199.48. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Synovus Financial by 11.3% during the second quarter. BlackRock Inc. now owns 11,945,202 shares of the bank’s stock worth $631,066,000 after purchasing an additional 1,210,436 shares during the last quarter. Carillon Tower Advisers Inc. lifted its stake in Synovus Financial by 52.3% during the second quarter. Carillon Tower Advisers Inc. now owns 2,597,887 shares of the bank’s stock worth $132,245,000 after purchasing an additional 891,789 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in Synovus Financial in the second quarter valued at $766,000. Voya Investment Management LLC lifted its stake in Synovus Financial by 23.7% in the second quarter. Voya Investment Management LLC now owns 179,102 shares of the bank’s stock valued at $9,462,000 after buying an additional 34,263 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Synovus Financial in the third quarter valued at $78,199,000. Hedge funds and other institutional investors own 77.57% of the company’s stock.

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Synovus Financial Company Profile (NYSE:SNV)

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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