Synovus Financial (NYSE:SNV) Price Target Lowered to $46.00 at Stephens

by · The Markets Daily

Synovus Financial (NYSE:SNV – Get Free Report) had its price objective dropped by investment analysts at Stephens from $52.00 to $46.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective would indicate a potential upside of 15.49% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of Synovus Financial from $60.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley decreased their target price on Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Barclays decreased their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Raymond James downgraded Synovus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. increased their target price on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.50.

Read Our Latest Research Report on SNV

Synovus Financial Trading Down 3.5 %

Synovus Financial stock traded down $1.46 during mid-day trading on Monday, reaching $39.83. 412,812 shares of the company traded hands, compared to its average volume of 1,421,169. Synovus Financial has a 52-week low of $34.66 and a 52-week high of $59.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day moving average price is $46.67 and its 200 day moving average price is $50.79. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV – Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million for the quarter, compared to analyst estimates of $572.35 million. On average, analysts anticipate that Synovus Financial will post 4.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNV. Colonial Trust Co SC raised its position in Synovus Financial by 554.4% in the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank’s stock valued at $30,000 after purchasing an additional 499 shares during the period. Keystone Financial Group Inc. purchased a new stake in shares of Synovus Financial in the 4th quarter valued at approximately $37,000. Jones Financial Companies Lllp boosted its position in shares of Synovus Financial by 72.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock worth $56,000 after purchasing an additional 461 shares during the period. V Square Quantitative Management LLC increased its holdings in Synovus Financial by 69.3% in the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after purchasing an additional 466 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Synovus Financial during the fourth quarter worth $59,000. 83.85% of the stock is owned by institutional investors and hedge funds.

Synovus Financial Company Profile

(Get Free Report)

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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