Stephens Has Lowered Expectations for Synovus Financial (NYSE:SNV) Stock Price

Synovus Financial (NYSE:SNV - Get Free Report) had its price target reduced by analysts at Stephens from $52.00 to $46.00 in a report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Stephens' price objective would indicate a potential upside of 6.51% from the company's previous close.

SNV has been the topic of several other reports. Wells Fargo & Company dropped their target price on Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. 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 report on Thursday, March 13th. JPMorgan Chase & Co. upped their target price on Synovus Financial from $60.50 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Citigroup raised their target price on shares of Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.17.

Synovus Financial Stock Down 0.3 %

NYSE SNV traded down $0.13 during trading on Monday, reaching $43.19. 33,129 shares of the company's stock were exchanged, compared to its average volume of 1,413,751. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial has a fifty-two week low of $35.74 and a fifty-two week high of $59.92. The company's fifty day simple moving average is $45.64 and its 200-day simple moving average is $50.64. The firm has a market capitalization of $6.09 billion, a PE ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 1.16.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SNV. Colonial Trust Co SC increased its holdings in Synovus Financial by 554.4% during the 4th quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock valued at $30,000 after purchasing an additional 499 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Synovus Financial in the fourth quarter valued at $37,000. Jones Financial Companies Lllp raised its holdings in shares of Synovus Financial by 72.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock valued at $56,000 after buying an additional 461 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Synovus Financial by 69.3% during the 4th 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 in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Synovus Financial during the 4th quarter worth about $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.