A number of research firms have changed their ratings and price targets for Synovus Financial (NYSE: SNV):

  • 1/5/2018 – Synovus Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $54.00 price target on the stock. According to Zacks, “Shares of Synovus have outperformed the industry over the past six months. This price performance is backed by the impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Synovus’ organic and inorganic growth strategies position the company well for the future. Further, its focus on balance-sheet growth keeps us encouraged. The company’s promising capital deployment activities reflect its strong capital position. However, escalating expenses is likely to keep bottom-line under pressure. Also, stretched valuation indicates limited upside potential.”
  • 1/3/2018 – Synovus Financial had its “average” rating reaffirmed by analysts at Robert W. Baird. They now have a $47.00 price target on the stock.
  • 1/2/2018 – Synovus Financial had its price target raised by analysts at Barclays PLC from $49.00 to $53.00. They now have an “equal weight” rating on the stock.
  • 12/26/2017 – Synovus Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shares of Synovus have outperformed the industry year to date. This price performance is backed by the impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Synovus’ organic and inorganic growth strategies position the company well for the future. Further, its focus on balance-sheet growth keeps us encouraged. The company’s promising capital deployment activities reflect its strong capital position. However, escalating expenses remain a concern.”
  • 12/22/2017 – Synovus Financial had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $53.00 price target on the stock.
  • 11/29/2017 – Synovus Financial had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $54.00 price target on the stock.

Synovus Financial Corp. (SNV) opened at $50.36 on Thursday. The company has a market cap of $6,020.00, a price-to-earnings ratio of 20.31, a P/E/G ratio of 2.09 and a beta of 1.13. Synovus Financial Corp. has a twelve month low of $37.95 and a twelve month high of $51.09. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

Synovus Financial (NYSE:SNV) last announced its earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $398.01 million for the quarter, compared to the consensus estimate of $331.27 million. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. During the same quarter last year, the firm posted $0.65 EPS. analysts expect that Synovus Financial Corp. will post 2.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, December 21st were issued a $0.15 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $0.60 annualized dividend and a yield of 1.19%. Synovus Financial’s dividend payout ratio (DPR) is presently 24.19%.

In other Synovus Financial news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total value of $462,900.00. Following the sale, the executive vice president now directly owns 43,488 shares in the company, valued at approximately $2,013,059.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Allen J. Gula sold 2,125 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $47.11, for a total transaction of $100,108.75. Following the completion of the sale, the chief operating officer now owns 72,561 shares in the company, valued at $3,418,348.71. The disclosure for this sale can be found here. Insiders sold a total of 13,177 shares of company stock worth $614,367 in the last quarter. Insiders own 1.50% of the company’s stock.

Synovus Financial Corp. is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

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