Synovus Financial Corp. (NYSE:SNV – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.50.
SNV has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of Synovus Financial from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, April 19th. StockNews.com lowered shares of Synovus Financial from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Barclays cut their price target on shares of Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. UBS Group lifted their price objective on shares of Synovus Financial from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Synovus Financial from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 19th.
Get Our Latest Report on Synovus Financial
Institutional Trading of Synovus Financial
Synovus Financial Stock Performance
Shares of NYSE:SNV opened at $39.11 on Thursday. The firm has a 50 day moving average of $37.99 and a 200 day moving average of $35.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 4.48 and a beta of 1.41. Synovus Financial has a 52 week low of $24.40 and a 52 week high of $40.92.
Synovus Financial (NYSE:SNV – Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The company had revenue of $537.73 million during the quarter, compared to the consensus estimate of $547.62 million. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts predict that Synovus Financial will post 3.76 earnings per share for the current fiscal year.
Synovus Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 21st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Wednesday, March 20th. Synovus Financial’s dividend payout ratio (DPR) is presently 52.05%.
About Synovus Financial
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.
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