Synovus Financial Corp. (NYSE:SNV) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday.

Other research analysts have also recently issued research reports about the stock. Stephens restated a “buy” rating and set a $46.00 target price on shares of Synovus Financial Corp. in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Bank of America Corporation upgraded shares of Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Thursday, May 11th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $44.00 price target (up previously from $42.00) on shares of Synovus Financial Corp. in a research note on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Synovus Financial Corp. has a consensus rating of “Hold” and an average price target of $42.78.

Synovus Financial Corp. (SNV) traded up 2.09% on Monday, hitting $42.98. 592,837 shares of the stock were exchanged. The company has a 50 day moving average of $43.89 and a 200 day moving average of $42.36. Synovus Financial Corp. has a one year low of $31.41 and a one year high of $45.38. The stock has a market capitalization of $5.22 billion, a P/E ratio of 19.52 and a beta of 1.12.

Synovus Financial Corp. (NYSE:SNV) last announced its earnings results on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The business had revenue of $319.80 million during the quarter, compared to analysts’ expectations of $317.81 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that Synovus Financial Corp. will post $2.46 earnings per share for the current fiscal year.

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In other news, EVP Curtis J. Perry sold 7,062 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $43.86, for a total value of $309,739.32. Following the transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at $2,633,266.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Joseph Howard sold 7,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the completion of the transaction, the executive vice president now directly owns 46,490 shares in the company, valued at $2,016,271.30. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of SNV. BlackRock Inc. raised its position in shares of Synovus Financial Corp. by 5,961.9% in the first quarter. BlackRock Inc. now owns 10,236,350 shares of the bank’s stock valued at $419,894,000 after buying an additional 10,067,487 shares during the last quarter. AJO LP raised its position in shares of Synovus Financial Corp. by 291.0% in the second quarter. AJO LP now owns 1,089,237 shares of the bank’s stock valued at $48,188,000 after buying an additional 810,692 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Synovus Financial Corp. by 477.2% in the first quarter. Martingale Asset Management L P now owns 784,741 shares of the bank’s stock valued at $32,192,000 after buying an additional 648,778 shares during the last quarter. Credit Suisse AG raised its position in shares of Synovus Financial Corp. by 54.8% in the first quarter. Credit Suisse AG now owns 1,325,506 shares of the bank’s stock valued at $54,372,000 after buying an additional 469,509 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in shares of Synovus Financial Corp. by 46.0% in the second quarter. Thrivent Financial For Lutherans now owns 1,214,532 shares of the bank’s stock valued at $53,731,000 after buying an additional 382,852 shares during the last quarter. 77.61% of the stock is currently owned by institutional investors.

About Synovus Financial Corp.

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.

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

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