Jefferies Group LLC reissued their hold rating on shares of Synovus Financial Corp. (NYSE:SNV) in a research report report published on Friday, July 14th. Jefferies Group LLC currently has a $47.00 price target on the bank’s stock.

A number of other research firms have also recently issued reports on SNV. Barclays PLC restated an equal weight rating and set a $46.00 target price (up previously from $44.00) on shares of Synovus Financial Corp. in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Synovus Financial Corp. from a buy rating to a hold rating in a research note on Thursday, July 13th. 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 raised shares of Synovus Financial Corp. from a neutral rating to a buy rating and set a $23.00 price target on the stock in a research report on Thursday, May 11th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $43.00 price target on shares of Synovus Financial Corp. in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Synovus Financial Corp. has an average rating of Hold and an average price target of $42.78.

Synovus Financial Corp. (NYSE SNV) opened at 43.93 on Friday. The stock’s 50 day moving average is $43.87 and its 200 day moving average is $42.28. Synovus Financial Corp. has a 12 month low of $30.87 and a 12 month high of $45.38. The company has a market cap of $5.34 billion, a PE ratio of 19.95 and a beta of 1.12.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $319.80 million during the quarter, compared to analysts’ expectations of $317.81 million. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. Synovus Financial Corp.’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. Equities analysts predict that Synovus Financial Corp. will post $2.46 earnings per share for the current year.

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In related news, EVP Curtis J. Perry sold 7,062 shares of Synovus Financial Corp. stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $43.86, for a total transaction of $309,739.32. Following the sale, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at approximately $2,633,266.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Joseph Howard sold 7,000 shares of Synovus Financial Corp. stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the sale, 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 company insiders.

Several large investors have recently made changes to their positions in the stock. Credit Agricole S A bought a new stake in shares of Synovus Financial Corp. during the fourth quarter valued at about $228,000. Allianz Asset Management AG bought a new stake in shares of Synovus Financial Corp. during the fourth quarter valued at about $283,000. New York State Teachers Retirement System raised its stake in shares of Synovus Financial Corp. by 47.0% in the fourth quarter. New York State Teachers Retirement System now owns 34,700 shares of the bank’s stock valued at $1,425,000 after buying an additional 11,100 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Synovus Financial Corp. by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,232 shares of the bank’s stock valued at $132,000 after buying an additional 297 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Synovus Financial Corp. during the fourth quarter valued at about $254,000. 78.35% 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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