ValuEngine cut shares of Synovus Financial Corp. (NYSE:SNV) from a buy rating to a hold rating in a research note released on Friday morning.

SNV has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Synovus Financial Corp. from a hold rating to a buy rating and set a $48.00 price objective for the company in a report on Tuesday, September 12th. Keefe, Bruyette & Woods reiterated a hold rating and set a $48.00 price objective on shares of Synovus Financial Corp. in a report on Thursday, October 19th. SunTrust Banks, Inc. reiterated a buy rating and set a $51.00 price objective on shares of Synovus Financial Corp. in a report on Thursday, October 12th. BidaskClub cut shares of Synovus Financial Corp. from a buy rating to a hold rating in a report on Sunday, July 16th. Finally, Jefferies Group LLC reiterated a hold rating and set a $50.00 price objective on shares of Synovus Financial Corp. in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $45.36.

Shares of Synovus Financial Corp. (SNV) opened at $45.65 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a market cap of $5,381.75, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. Synovus Financial Corp. has a twelve month low of $37.55 and a twelve month high of $47.67.

Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. During the same period last year, the company posted $0.65 earnings per share. equities analysts predict that Synovus Financial Corp. will post 2.48 EPS for the current fiscal year.

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In related news, COO Allen J. Gula sold 2,125 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares in the company, valued at $3,418,348.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $46.29, for a total transaction of $462,900.00. Following the transaction, the executive vice president now owns 43,488 shares in the company, valued at $2,013,059.52. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Balentine LLC raised its position in Synovus Financial Corp. by 0.4% in the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after acquiring an additional 12 shares during the period. Teacher Retirement System of Texas raised its position in Synovus Financial Corp. by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 9,820 shares of the bank’s stock worth $434,000 after acquiring an additional 84 shares during the period. M&T Bank Corp raised its position in Synovus Financial Corp. by 1.3% in the second quarter. M&T Bank Corp now owns 7,288 shares of the bank’s stock worth $322,000 after acquiring an additional 91 shares during the period. Capstone Asset Management Co. raised its position in Synovus Financial Corp. by 1.1% in the second quarter. Capstone Asset Management Co. now owns 9,040 shares of the bank’s stock worth $400,000 after acquiring an additional 100 shares during the period. Finally, Calamos Advisors LLC raised its position in Synovus Financial Corp. by 2.4% in the second quarter. Calamos Advisors LLC now owns 6,750 shares of the bank’s stock worth $299,000 after acquiring an additional 160 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Corp. Company Profile

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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Analyst Recommendations for Synovus Financial Corp. (NYSE:SNV)

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