Synovus Financial Corp. (NYSE:SNV) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five 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 $47.30.

SNV has been the topic of several recent research reports. Robert W. Baird reaffirmed an “average” rating and issued a $47.00 target price on shares of Synovus Financial in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating and issued a $51.00 target price on shares of Synovus Financial in a research note on Thursday, October 12th. Barclays raised their target price on shares of Synovus Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 target price on shares of Synovus Financial in a research note on Friday, December 22nd.

In related news, Director Philip W. Tomlinson sold 1,052 shares of Synovus Financial stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $48.82, for a total transaction of $51,358.64. Following the transaction, the director now owns 27,139 shares of the company’s stock, valued at approximately $1,324,925.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Allen J. Gula sold 2,125 shares of Synovus Financial stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $47.11, for a total transaction of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares in the company, valued at approximately $3,418,348.71. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Synovus Financial by 3.6% during the 2nd quarter. BlackRock Inc. now owns 10,607,093 shares of the bank’s stock worth $469,257,000 after acquiring an additional 370,743 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Synovus Financial by 25.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,362,104 shares of the bank’s stock worth $156,270,000 after acquiring an additional 671,971 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Synovus Financial by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,651,364 shares of the bank’s stock worth $76,061,000 after acquiring an additional 11,162 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Synovus Financial by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 1,228,056 shares of the bank’s stock valued at $55,963,000 after buying an additional 35,637 shares in the last quarter. Finally, EJF Capital LLC lifted its stake in Synovus Financial by 50.0% in the third quarter. EJF Capital LLC now owns 900,002 shares of the bank’s stock valued at $41,454,000 after buying an additional 300,000 shares in the last quarter. 77.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of Synovus Financial (NYSE SNV) opened at $49.88 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $5,980.00, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. Synovus Financial has a 1 year low of $37.95 and a 1 year high of $51.29.

Synovus Financial (NYSE:SNV) last issued its earnings results on Tuesday, October 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $398.01 million for the quarter, compared to analyst estimates of $331.27 million. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. During the same quarter last year, the firm earned $0.65 EPS. equities research analysts forecast that Synovus Financial will post 2.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, December 21st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.20%. The ex-dividend date was Wednesday, December 20th. Synovus Financial’s payout ratio is 24.19%.

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Synovus Financial Company Profile

Synovus Financial Corp. is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

Analyst Recommendations for Synovus Financial (NYSE:SNV)

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