Analysts Set Synovus Financial Corp. (NYSE:SNV) Price Target at $58.44

Synovus Financial Corp. (NYSE:SNV - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $58.44.

SNV has been the subject of a number of analyst reports. UBS Group initiated coverage on Synovus Financial in a research report on Tuesday, December 17th. They set a "buy" rating and a $76.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Synovus Financial from $52.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Synovus Financial from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Citigroup boosted their price objective on Synovus Financial from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, January 17th.

Synovus Financial Trading Up 1.2 %

NYSE SNV traded up $0.61 during trading on Wednesday, hitting $51.86. The stock had a trading volume of 1,281,976 shares, compared to its average volume of 1,242,692. The company has a market capitalization of $7.31 billion, a PE ratio of 17.00, a PEG ratio of 1.11 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average price of $53.68 and a 200 day moving average price of $50.68. Synovus Financial has a twelve month low of $33.44 and a twelve month high of $59.92.

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Synovus Financial (NYSE:SNV - Get Free Report) last released its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The company had revenue of $580.58 million during the quarter, compared to the consensus estimate of $566.83 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. Synovus Financial's revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. As a group, equities research analysts forecast that Synovus Financial will post 4.89 earnings per share for the current year.

Synovus Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial's dividend payout ratio (DPR) is presently 49.84%.

Institutional Investors Weigh In On Synovus Financial

Several large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Synovus Financial during the fourth quarter worth approximately $7,799,000. Jefferies Financial Group Inc. purchased a new stake in shares of Synovus Financial during the fourth quarter worth approximately $1,780,000. Mackenzie Financial Corp purchased a new stake in shares of Synovus Financial during the fourth quarter worth approximately $521,000. Forum Financial Management LP purchased a new stake in shares of Synovus Financial during the fourth quarter worth approximately $254,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Synovus Financial by 17.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 497,160 shares of the bank's stock valued at $25,470,000 after acquiring an additional 72,853 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company's stock.

Synovus Financial Company Profile

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.