Shares of Synovus Financial Corp. (NYSE:SNV) have been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.56.

A number of equities research analysts have weighed in on SNV shares. Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, June 24th. Bank of America Corp. lowered shares of Synovus Financial Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reduced their price objective on shares of Synovus Financial Corp. from $32.00 to $30.50 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Barclays PLC upped their price objective on shares of Synovus Financial Corp. from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 20th. Finally, Hovde Group upped their price objective on shares of Synovus Financial Corp. from $34.00 to $35.50 and gave the company an “outperform” rating in a research note on Friday, August 19th.

Institutional investors have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new position in Synovus Financial Corp. during the second quarter worth approximately $151,000. Parametrica Management Ltd purchased a new position in Synovus Financial Corp. during the second quarter worth approximately $200,000. First Allied Advisory Services Inc. purchased a new position in Synovus Financial Corp. during the second quarter worth approximately $208,000. LS Investment Advisors LLC increased its position in Synovus Financial Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 7,544 shares of the company’s stock worth $219,000 after buying an additional 3,151 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Synovus Financial Corp. during the second quarter worth approximately $234,000. Hedge funds and other institutional investors own 76.68% of the company’s stock.

Shares of Synovus Financial Corp. (NYSE:SNV) opened at 33.21 on Thursday. Synovus Financial Corp. has a 1-year low of $25.48 and a 1-year high of $33.80. The firm’s 50-day moving average is $32.61 and its 200 day moving average is $30.87. The stock has a market capitalization of $4.08 billion, a P/E ratio of 19.65 and a beta of 1.72.

Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. Synovus Financial Corp. had a net margin of 18.39% and a return on equity of 8.42%. The company earned $289.30 million during the quarter, compared to the consensus estimate of $288.06 million. During the same period in the prior year, the company earned $0.40 EPS. On average, analysts expect that Synovus Financial Corp. will post $1.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. Synovus Financial Corp.’s dividend payout ratio is currently 28.24%.

Synovus Financial Corp. Company Profile

Synovus Financial Corp. is a financial services 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 over 30 locally branded banking divisions of its subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

5 Day Chart for NYSE:SNV

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