Synovus Financial (NYSE:SNV) Stock Price Expected to Rise, Evercore ISI Analyst Says

Synovus Financial (NYSE:SNV - Get Free Report) had its price target hoisted by Evercore ISI from $48.00 to $54.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "in-line" rating on the bank's stock. Evercore ISI's price objective suggests a potential upside of 6.91% from the stock's current price.

A number of other research analysts have also recently weighed in on the stock. DA Davidson lifted their price target on shares of Synovus Financial from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Synovus Financial from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Barclays increased their price target on Synovus Financial from $49.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Wells Fargo & Company downgraded Synovus Financial from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $48.00 to $46.00 in a research report on Tuesday, October 1st. Finally, Stephens raised their target price on Synovus Financial from $46.00 to $52.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.24.

Synovus Financial Trading Up 1.4 %

Synovus Financial stock traded up $0.69 during trading on Wednesday, hitting $50.51. The company's stock had a trading volume of 1,115,835 shares, compared to its average volume of 1,408,136. The stock's fifty day moving average is $45.42 and its 200 day moving average is $41.89. Synovus Financial has a 1-year low of $25.52 and a 1-year high of $51.69. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.76 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.89.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. The business had revenue of $564.72 million for the quarter, compared to analyst estimates of $557.64 million. During the same period in the prior year, the firm posted $0.84 EPS. The company's revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Synovus Financial will post 4.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of Synovus Financial during the third quarter worth approximately $30,000. UMB Bank n.a. grew its stake in shares of Synovus Financial by 87.2% in the third quarter. UMB Bank n.a. now owns 747 shares of the bank's stock worth $33,000 after purchasing an additional 348 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Synovus Financial during the second quarter valued at $43,000. Abich Financial Wealth Management LLC raised its stake in shares of Synovus Financial by 43.5% during the first quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank's stock valued at $49,000 after purchasing an additional 371 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Synovus Financial during the first quarter valued at about $51,000. 83.85% of the stock is currently owned by institutional investors.

About Synovus Financial

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.