Synovus Financial Corp. (NYSE:SNV) – Analysts at SunTrust Banks boosted their Q1 2018 EPS estimates for shares of Synovus Financial in a research report issued on Monday. SunTrust Banks analyst J. Demba now forecasts that the bank will earn $0.75 per share for the quarter, up from their prior estimate of $0.63. SunTrust Banks has a “Buy” rating and a $54.00 price target on the stock. SunTrust Banks also issued estimates for Synovus Financial’s Q2 2018 earnings at $0.82 EPS, Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.90 EPS, Q1 2019 earnings at $0.82 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.91 EPS and Q4 2019 earnings at $0.96 EPS.
SNV has been the topic of a number of other research reports. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, December 26th. Barclays boosted their price objective on shares of Synovus Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Robert W. Baird reiterated a “hold” rating and set a $43.00 price objective on shares of Synovus Financial in a research report on Friday, October 20th. 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 in a research report on Saturday, September 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 target price on shares of Synovus Financial in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $47.30.
Shares of Synovus Financial (SNV) traded up $0.50 during mid-day trading on Tuesday, hitting $50.36. 889,900 shares of the stock were exchanged, compared to its average volume of 737,943. Synovus Financial has a 52-week low of $37.95 and a 52-week high of $51.09. The company has a market capitalization of $6,020.00, a price-to-earnings ratio of 20.31, a PEG ratio of 2.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.99.
Synovus Financial (NYSE:SNV) last posted its earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. During the same period last year, the company posted $0.65 EPS.
Several large investors have recently added to or reduced their stakes in the company. Balentine LLC boosted its position in Synovus Financial by 0.4% during the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after purchasing an additional 12 shares in the last quarter. M&T Bank Corp lifted its position in Synovus Financial by 1.3% during the second quarter. M&T Bank Corp now owns 7,288 shares of the bank’s stock worth $322,000 after buying an additional 91 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Synovus Financial 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 during the period. Keel Point LLC lifted its position in Synovus Financial by 8.7% during the second quarter. Keel Point LLC now owns 6,262 shares of the bank’s stock worth $277,000 after buying an additional 501 shares during the period. Finally, Colonial Trust Advisors lifted its position in Synovus Financial by 8.9% during the second quarter. Colonial Trust Advisors now owns 6,130 shares of the bank’s stock worth $271,000 after buying an additional 503 shares during the period. 77.81% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Philip W. Tomlinson sold 1,052 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 27,139 shares in the company, valued at $1,324,925.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was 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 of the company’s stock, valued at approximately $2,013,059.52. The disclosure for this sale can be found here. Insiders have sold a total of 13,177 shares of company stock valued at $614,367 over the last three months. Corporate insiders own 1.50% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, December 20th. Synovus Financial’s dividend payout ratio (DPR) is presently 24.19%.
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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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