Synovus Financial (NYSE:SNV) Price Target Lowered to $60.00 at DA Davidson

Synovus Financial (NYSE:SNV - Free Report) had its target price trimmed by DA Davidson from $65.00 to $60.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the bank's stock. DA Davidson also issued estimates for Synovus Financial's Q2 2025 earnings at $1.21 EPS, FY2025 earnings at $5.07 EPS and FY2026 earnings at $5.48 EPS.

SNV has been the subject of several other research reports. Wells Fargo & Company lowered their price objective on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Raymond James lowered Synovus Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Royal Bank of Canada decreased their price objective on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Morgan Stanley cut their target price on Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Barclays lowered their price target on Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.17.

Synovus Financial Stock Down 0.8 %

Shares of SNV stock opened at $42.99 on Monday. The stock has a market cap of $6.06 billion, a P/E ratio of 14.10, a PEG ratio of 1.11 and a beta of 1.16. The company's fifty day simple moving average is $45.38 and its two-hundred day simple moving average is $50.64. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial has a 52 week low of $35.74 and a 52 week high of $59.92.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million during the quarter, compared to analyst estimates of $572.35 million. Analysts predict that Synovus Financial will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.39 per share. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, March 20th. Synovus Financial's dividend payout ratio (DPR) is presently 43.70%.

Hedge Funds Weigh In On Synovus Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Colonial Trust Co SC raised its holdings in shares of Synovus Financial by 554.4% in the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock valued at $30,000 after acquiring an additional 499 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Synovus Financial in the 4th quarter valued at about $37,000. Jones Financial Companies Lllp lifted its position in shares of Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock worth $56,000 after purchasing an additional 461 shares during the period. V Square Quantitative Management LLC lifted its holdings in Synovus Financial by 69.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock worth $58,000 after buying an additional 466 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in Synovus Financial during the 4th quarter valued at $59,000. 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.