Robert W. Baird reaffirmed their hold rating on shares of Synovus Financial Corp. (NYSE:SNV) in a research report released on Friday morning. The brokerage currently has a $43.00 target price on the bank’s stock.

Several other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a hold rating and issued a $48.00 target price on shares of Synovus Financial Corp. in a research note on Thursday. Barclays PLC set a $49.00 target price on shares of Synovus Financial Corp. and gave the company a hold rating in a research note on Wednesday, October 18th. SunTrust Banks, Inc. reiterated a buy rating and issued a $51.00 target price on shares of Synovus Financial Corp. in a research note on Thursday, October 12th. Jefferies Group LLC reiterated a hold rating and issued a $50.00 target price on shares of Synovus Financial Corp. in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Synovus Financial Corp. from a hold rating to a buy rating and set a $49.00 target price for the company in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $45.09.

Shares of Synovus Financial Corp. (SNV) opened at 47.30 on Friday. The stock has a market capitalization of $5.66 billion, a PE ratio of 19.14 and a beta of 1.10. The stock has a 50 day moving average of $44.73 and a 200-day moving average of $43.12. Synovus Financial Corp. has a 52 week low of $32.21 and a 52 week high of $47.67.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, October 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. The firm had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. During the same period in the previous year, the business posted $0.65 EPS. On average, equities research analysts expect that Synovus Financial Corp. will post $2.47 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 21st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, September 20th. Synovus Financial Corp.’s payout ratio is presently 24.19%.

In related news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total value of $462,900.00. Following the completion of the sale, the executive vice president now owns 43,488 shares of the company’s stock, valued at approximately $2,013,059.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Balentine LLC increased its holdings in Synovus Financial Corp. by 0.4% in the 2nd quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after acquiring an additional 12 shares in the last quarter. TLP Group LLC purchased a new stake in shares of Synovus Financial Corp. during the second quarter worth $145,000. Advisory Services Network LLC grew its holdings in shares of Synovus Financial Corp. by 17.8% during the second quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock worth $152,000 after buying an additional 519 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Synovus Financial Corp. by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock worth $145,000 after buying an additional 622 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Synovus Financial Corp. by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,608 shares of the bank’s stock worth $204,000 after buying an additional 474 shares in the last quarter. 77.87% of the stock is 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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