Synovus Financial Corp. (NYSE:SNV) has been assigned an average recommendation of “Hold” from the sixteen research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $50.92.

Several analysts have recently commented on SNV shares. ValuEngine cut Synovus Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. JPMorgan Chase & Co. increased their target price on Synovus Financial from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, April 26th. Stephens cut Synovus Financial from an “overweight” rating to an “equal” rating and set a $31.00 target price on the stock. in a report on Tuesday, July 24th. Zacks Investment Research raised Synovus Financial from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, April 30th. Finally, Morgan Stanley upped their price target on Synovus Financial from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, April 27th.

In related news, EVP Allan E. Kamensky bought 1,000 shares of the business’s stock in a transaction on Friday, July 27th. The shares were purchased at an average price of $50.06 per share, with a total value of $50,060.00. Following the completion of the purchase, the executive vice president now owns 66,166 shares of the company’s stock, valued at approximately $3,312,269.96. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Curtis J. Perry sold 2,000 shares of the stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $54.36, for a total value of $108,720.00. The disclosure for this sale can be found here. Insiders have bought 20,310 shares of company stock worth $614,173 in the last ninety days. 1.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. EJF Capital LLC increased its holdings in shares of Synovus Financial by 2.8% in the first quarter. EJF Capital LLC now owns 370,000 shares of the bank’s stock worth $18,478,000 after acquiring an additional 9,998 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Synovus Financial by 22.0% in the first quarter. State of Tennessee Treasury Department now owns 166,528 shares of the bank’s stock worth $8,316,000 after acquiring an additional 30,000 shares in the last quarter. Three Peaks Capital Management LLC bought a new stake in shares of Synovus Financial in the second quarter worth about $1,318,000. Profund Advisors LLC increased its holdings in shares of Synovus Financial by 14.1% in the first quarter. Profund Advisors LLC now owns 20,783 shares of the bank’s stock worth $1,038,000 after acquiring an additional 2,565 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Synovus Financial by 2.2% in the first quarter. Principal Financial Group Inc. now owns 520,721 shares of the bank’s stock worth $26,005,000 after acquiring an additional 11,264 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SNV stock traded down $0.08 during trading hours on Tuesday, hitting $49.53. 1,520,820 shares of the company’s stock were exchanged, compared to its average volume of 1,797,102. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a market capitalization of $5.82 billion, a PE ratio of 19.58, a PEG ratio of 1.71 and a beta of 0.97. Synovus Financial has a 52 week low of $40.27 and a 52 week high of $57.40.

Synovus Financial (NYSE:SNV) last announced its earnings results on Tuesday, July 24th. The bank reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $359.30 million for the quarter, compared to analysts’ expectations of $356.60 million. Synovus Financial had a return on equity of 13.61% and a net margin of 21.47%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. analysts forecast that Synovus Financial will post 3.63 earnings per share for the current fiscal year.

About Synovus Financial

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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Analyst Recommendations for Synovus Financial (NYSE:SNV)

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