Synovus Financial Corp. (NYSE:SNV) Given Consensus Rating of “Moderate Buy” by Analysts

Synovus Financial Corp. (NYSE:SNV) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $58.67.

SNV has been the topic of a number of analyst reports. Morgan Stanley decreased their price objective on Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company increased their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Citigroup increased their price objective on Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, January 17th.

Institutional Trading of Synovus Financial

Several hedge funds have recently added to or reduced their stakes in SNV. Colonial Trust Co SC grew its stake in shares of Synovus Financial by 554.4% during the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank’s stock valued at $30,000 after buying an additional 499 shares during the last quarter. Keystone Financial Group Inc. bought a new position in Synovus Financial during the 4th quarter worth approximately $37,000. Quarry LP purchased a new position in Synovus Financial in the 3rd quarter worth approximately $41,000. Brooklyn Investment Group bought a new stake in Synovus Financial in the third quarter valued at approximately $56,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Synovus Financial by 72.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock valued at $56,000 after purchasing an additional 461 shares during the period. 83.85% of the stock is owned by institutional investors.

Synovus Financial Trading Down 2.7 %

Shares of Synovus Financial stock opened at $46.12 on Friday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 1.36. Synovus Financial has a 52-week low of $33.44 and a 52-week high of $59.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day simple moving average is $51.56 and its 200 day simple moving average is $51.11.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company had revenue of $580.58 million for the quarter, compared to analysts’ expectations of $566.83 million. During the same period in the prior year, the company posted $0.80 EPS. Synovus Financial’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts anticipate that Synovus Financial will post 4.89 EPS for the current year.

Synovus Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th will be paid a $0.39 dividend. This is a boost from Synovus Financial’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.38%. Synovus Financial’s dividend payout ratio is 51.15%.

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.