Synovus Financial’s (SNV) “Equal Weight” Rating Reiterated at Stephens

Synovus Financial (NYSE:SNV)‘s stock had its “equal weight” rating reaffirmed by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $58.00 target price on the bank’s stock. Stephens’ target price indicates a potential upside of 6.24% from the company’s previous close.

Other equities analysts also recently issued reports about the company. DA Davidson upped their target price on Synovus Financial from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler lifted their target price on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Truist Financial raised their price target on shares of Synovus Financial from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Evercore ISI upped their price objective on shares of Synovus Financial from $48.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 target price for the company. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Synovus Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Synovus Financial Trading Up 0.7 %

Synovus Financial stock opened at $54.60 on Thursday. Synovus Financial has a one year low of $33.44 and a one year high of $59.92. The stock has a market cap of $7.73 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.31 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a 50-day moving average of $54.23 and a two-hundred day moving average of $48.30.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The firm had revenue of $580.58 million during the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. Synovus Financial’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. On average, research analysts anticipate that Synovus Financial will post 4.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Synovus Financial

A number of institutional investors have recently added to or reduced their stakes in SNV. GAMMA Investing LLC lifted its holdings in Synovus Financial by 6.5% during the third quarter. GAMMA Investing LLC now owns 3,754 shares of the bank’s stock valued at $167,000 after purchasing an additional 229 shares in the last quarter. Dana Investment Advisors Inc. lifted its stake in Synovus Financial by 0.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 35,759 shares of the bank’s stock valued at $1,437,000 after buying an additional 254 shares in the last quarter. Wedmont Private Capital boosted its holdings in Synovus Financial by 3.3% in the 4th quarter. Wedmont Private Capital now owns 9,401 shares of the bank’s stock worth $479,000 after buying an additional 299 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Synovus Financial by 2.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 14,800 shares of the bank’s stock worth $758,000 after buying an additional 302 shares in the last quarter. Finally, Hanseatic Management Services Inc. raised its holdings in shares of Synovus Financial by 2.8% during the third quarter. Hanseatic Management Services Inc. now owns 12,212 shares of the bank’s stock valued at $543,000 after acquiring an additional 327 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

About Synovus Financial

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.