News stories about Synovus Financial (NYSE:SNV) have been trending somewhat positive on Tuesday, according to Accern. The research group identifies negative and positive press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Synovus Financial earned a news impact score of 0.13 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 46.8851822904563 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s rankings:
- Mark G. Holladay Sells 5,000 Shares of Synovus Financial Corp. (SNV) Stock (americanbankingnews.com)
- Synovus Financial Corp. (SNV) COO Sells $123,039.00 in Stock (americanbankingnews.com)
- Bank of North Georgia begins moving to Synovus branding (bizjournals.com)
- Bank of North Georgia Begins Transition to Synovus Branding (finance.yahoo.com)
Several brokerages have issued reports on SNV. Morgan Stanley increased their price objective on shares of Synovus Financial from $50.00 to $52.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Barclays increased their price objective on shares of Synovus Financial from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Stephens reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Synovus Financial in a research report on Wednesday, January 24th. Bank of America increased their price objective on shares of Synovus Financial from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Hovde Group reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Synovus Financial in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $51.92.
Synovus Financial (NYSE:SNV) last released its earnings results on Tuesday, January 23rd. The bank reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The company had revenue of $339.07 million during the quarter, compared to analysts’ expectations of $338.60 million. Synovus Financial had a return on equity of 11.20% and a net margin of 18.27%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. equities analysts forecast that Synovus Financial will post 3.42 EPS for the current year.
Synovus Financial declared that its board has approved a stock buyback plan on Tuesday, January 23rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, Director Philip W. Tomlinson sold 1,052 shares of the firm’s 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 directly owns 27,139 shares in the company, valued at $1,324,925.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Allen J. Gula sold 2,450 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $50.22, for a total value of $123,039.00. Following the transaction, the chief operating officer now owns 70,111 shares in the company, valued at $3,520,974.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,502 shares of company stock valued at $425,198. Company insiders own 1.50% of the company’s stock.
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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.
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