Synovus Financial Corp. (NYSE:SNV) has received an average rating of “Buy” from the seventeen analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $48.75.
A number of equities research analysts have weighed in on the company. Barclays decreased their price objective on Synovus Financial from $55.00 to $47.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 24th. SunTrust Banks decreased their price objective on Synovus Financial to $38.00 and set a “buy” rating on the stock in a report on Friday, January 4th. They noted that the move was a valuation call. Wells Fargo & Co set a $51.00 price objective on Synovus Financial and gave the company a “hold” rating in a report on Tuesday, October 2nd. Morgan Stanley reaffirmed a “hold” rating and set a $55.00 price objective (down from $56.00) on shares of Synovus Financial in a report on Tuesday, September 18th. Finally, Stephens reaffirmed a “hold” rating and set a $54.00 price objective on shares of Synovus Financial in a report on Tuesday, October 23rd.
In other Synovus Financial news, Director Elizabeth W. Camp bought 3,000 shares of Synovus Financial stock in a transaction dated Thursday, October 25th. The shares were acquired at an average cost of $36.97 per share, with a total value of $110,910.00. Following the acquisition, the director now directly owns 16,718 shares of the company’s stock, valued at $618,064.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kessel D. Stelling bought 7,500 shares of Synovus Financial stock in a transaction dated Thursday, December 6th. The stock was acquired at an average cost of $34.72 per share, for a total transaction of $260,400.00. The disclosure for this purchase can be found here. Insiders bought a total of 11,250 shares of company stock worth $399,195 over the last three months. 1.50% of the stock is owned by company insiders.
SNV traded up $0.18 on Friday, hitting $34.96. 2,614,837 shares of the stock traded hands, compared to its average volume of 3,182,967. Synovus Financial has a 52 week low of $29.93 and a 52 week high of $57.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.06 and a beta of 1.23.
Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. The company had revenue of $363.29 million for the quarter, compared to the consensus estimate of $368.24 million. Synovus Financial had a return on equity of 15.05% and a net margin of 22.41%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. Equities research analysts expect that Synovus Financial will post 3.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Thursday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, December 19th. Synovus Financial’s payout ratio is currently 39.53%.
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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