Barclays PLC Reiterates $49.00 Price Target for Synovus Financial Corp. (SNV)

Barclays PLC set a $49.00 price target on Synovus Financial Corp. (NYSE:SNV) in a research report sent to investors on Wednesday, October 18th. The firm currently has a hold rating on the bank’s stock.

Several other equities analysts have also weighed in on the stock. SunTrust Banks, Inc. reiterated a buy rating and set a $51.00 price objective on shares of Synovus Financial Corp. in a report on Thursday, October 12th. Jefferies Group LLC reiterated a hold rating and set a $50.00 price objective on shares of Synovus Financial Corp. in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Synovus Financial Corp. from a hold rating to a buy rating and set a $49.00 price objective on the stock in a report on Tuesday, September 19th. Sanford C. Bernstein reiterated a market perform rating and set a $42.00 price objective (up previously from $41.00) on shares of Synovus Financial Corp. in a report on Saturday, September 16th. Finally, ValuEngine lowered shares of Synovus Financial Corp. from a buy rating to a hold rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $45.09.



Shares of Synovus Financial Corp. (NYSE:SNV) traded up 0.17% on Wednesday, hitting $47.17. The stock had a trading volume of 449,398 shares. Synovus Financial Corp. has a 1-year low of $32.21 and a 1-year high of $47.67. The stock has a market cap of $5.64 billion, a P/E ratio of 19.09 and a beta of 1.10. The firm’s 50-day moving average is $45.42 and its 200 day moving average is $43.35.

Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, beating the Zacks’ 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 business had revenue of $398.01 million for the quarter, compared to analysts’ expectations of $331.27 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities analysts forecast that Synovus Financial Corp. will post $2.59 EPS for the current year.

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

In related news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $46.29, for a total value of $462,900.00. Following the sale, the executive vice president now owns 43,488 shares in the company, valued at approximately $2,013,059.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Balentine LLC increased its stake in Synovus Financial Corp. by 0.4% in the 2nd quarter. Balentine LLC now owns 3,120 shares of the bank’s stock valued at $138,000 after buying an additional 12 shares during the last quarter. TLP Group LLC purchased a new stake in Synovus Financial Corp. in the 2nd quarter valued at about $145,000. Meeder Asset Management Inc. purchased a new stake in Synovus Financial Corp. in the 1st quarter valued at about $135,000. Advisory Services Network LLC increased its stake in Synovus Financial Corp. by 17.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock valued at $152,000 after buying an additional 519 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Synovus Financial Corp. by 21.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock valued at $145,000 after buying an additional 622 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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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