Synovus Financial Corp. (NYSE:SNV) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday.

SNV has been the topic of several other research reports. Wells Fargo & Co. lowered shares of Synovus Financial Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 23rd. Compass Point downgraded shares of Synovus Financial Corp. from a “buy” rating to a “neutral” rating in a report on Friday, November 18th. Zacks Investment Research upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, September 20th. Hovde Group raised their target price on shares of Synovus Financial Corp. from $34.00 to $35.50 and gave the stock an “outperform” rating in a report on Friday, August 19th. Finally, upgraded shares of Synovus Financial Corp. from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $33.00 in a report on Friday, September 23rd. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.14.

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

Shares of Synovus Financial Corp. (NYSE:SNV) opened at 38.71 on Tuesday. The company has a market capitalization of $4.73 billion, a P/E ratio of 21.76 and a beta of 1.31. Synovus Financial Corp. has a 52-week low of $25.48 and a 52-week high of $39.25. The firm has a 50-day moving average of $34.78 and a 200 day moving average of $32.11.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. Synovus Financial Corp. had a net margin of 18.68% and a return on equity of 8.68%. During the same quarter last year, the business posted $0.42 EPS. On average, analysts anticipate that Synovus Financial Corp. will post $1.89 EPS for the current year.

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In related news, EVP Curtis J. Perry sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $33.66, for a total value of $269,280.00. Following the completion of the transaction, the executive vice president now directly owns 57,125 shares of the company’s stock, valued at $1,922,827.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark G. Holladay sold 6,035 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $33.28, for a total transaction of $200,844.80. Following the completion of the transaction, the vice president now directly owns 53,967 shares of the company’s stock, valued at $1,796,021.76. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Balentine LLC purchased a new position in Synovus Financial Corp. during the third quarter valued at $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Synovus Financial Corp. by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,134 shares of the company’s stock valued at $134,000 after buying an additional 453 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Synovus Financial Corp. during the second quarter valued at $151,000. Parametrica Management Ltd purchased a new position in Synovus Financial Corp. during the second quarter valued at $200,000. Finally, First Allied Advisory Services Inc. purchased a new position in Synovus Financial Corp. during the second quarter valued at $208,000. 77.80% of the stock is owned by institutional investors and hedge funds.

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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