Synovus Financial Corp. (SNV) Receives $47.30 Average Target Price from Brokerages

Synovus Financial Corp. (NYSE:SNV) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $47.30.

SNV has been the topic of a number of recent research reports. Jefferies Group reaffirmed a “hold” rating and issued a $50.00 target price on shares of Synovus Financial in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and issued a $43.00 target price on shares of Synovus Financial in a research note on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $48.00 target price on shares of Synovus Financial in a research note on Thursday, October 19th. Zacks Investment Research lowered Synovus Financial from a “buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a research note on Friday, January 5th. Finally, Barclays set a $49.00 target price on Synovus Financial and gave the company a “hold” rating in a research note on Wednesday, October 18th.

Synovus Financial (NYSE:SNV) traded up $0.28 on Friday, hitting $50.78. The company had a trading volume of 1,110,000 shares, compared to its average volume of 808,734. Synovus Financial has a 1-year low of $37.95 and a 1-year high of $51.29. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6,070.00, a PE ratio of 20.48, a P/E/G ratio of 1.89 and a beta of 1.13.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, December 20th. Synovus Financial’s dividend payout ratio is presently 24.19%.

In other Synovus Financial news, Director Philip W. Tomlinson sold 1,052 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $48.82, for a total transaction of $51,358.64. Following the transaction, the director now owns 27,139 shares of the company’s stock, valued at approximately $1,324,925.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Allen J. Gula sold 2,125 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $47.11, for a total value of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares in the company, valued at approximately $3,418,348.71. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Balentine LLC lifted its stake in shares of Synovus Financial by 0.4% during the 2nd quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after purchasing an additional 12 shares during the period. TLP Group LLC purchased a new position in shares of Synovus Financial in the 2nd quarter worth $145,000. Advisory Services Network LLC raised its position in shares of Synovus Financial by 17.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock worth $152,000 after buying an additional 519 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Synovus Financial in the 4th quarter worth $171,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Synovus Financial by 16.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,120 shares of the bank’s stock worth $182,000 after buying an additional 583 shares during the period. 77.48% of the stock is currently owned by institutional investors.

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Synovus Financial Company Profile

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 (NYSE:SNV)

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