Synovus Financial Corp. (NYSE:SNV) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Synovus Financial Corp. (NYSE:SNV - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $57.86.

Several equities research analysts have recently weighed in on SNV shares. Stephens increased their price target on Synovus Financial from $46.00 to $52.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Barclays lifted their target price on Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. DA Davidson upped their price target on shares of Synovus Financial from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Bank of America lifted their price objective on shares of Synovus Financial from $48.00 to $57.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, UBS Group started coverage on shares of Synovus Financial in a research note on Tuesday, December 17th. They issued a "buy" rating and a $76.00 target price on the stock.

Synovus Financial Trading Down 0.6 %

SNV traded down $0.34 during trading on Tuesday, reaching $52.43. The company had a trading volume of 1,242,542 shares, compared to its average volume of 1,089,203. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $54.05 and a 200-day simple moving average of $47.51. The stock has a market cap of $7.43 billion, a P/E ratio of 23.72, a PEG ratio of 1.58 and a beta of 1.39. Synovus Financial has a 52 week low of $33.44 and a 52 week high of $59.92.

Synovus Financial (NYSE:SNV - Get Free Report) last released its earnings results on Wednesday, October 16th. The bank reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. The firm had revenue of $564.72 million during the quarter, compared to analyst estimates of $557.64 million. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.84 EPS. On average, equities analysts anticipate that Synovus Financial will post 4.37 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were paid a $0.38 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a yield of 2.90%. Synovus Financial's dividend payout ratio (DPR) is 68.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SNV. GAMMA Investing LLC boosted its position in Synovus Financial by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,754 shares of the bank's stock worth $167,000 after purchasing an additional 229 shares in the last quarter. Dana Investment Advisors Inc. lifted its stake in shares of Synovus Financial by 0.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 35,759 shares of the bank's stock valued at $1,437,000 after purchasing an additional 254 shares during the period. Hanseatic Management Services Inc. boosted its holdings in Synovus Financial by 2.8% during the third quarter. Hanseatic Management Services Inc. now owns 12,212 shares of the bank's stock worth $543,000 after buying an additional 327 shares in the last quarter. Wedmont Private Capital grew its position in Synovus Financial by 3.8% during the third quarter. Wedmont Private Capital now owns 9,102 shares of the bank's stock valued at $394,000 after buying an additional 335 shares during the period. Finally, Signaturefd LLC increased its holdings in Synovus Financial by 0.6% in the third quarter. Signaturefd LLC now owns 55,823 shares of the bank's stock valued at $2,482,000 after buying an additional 338 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

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.