Jefferies Financial Group Trims Synovus Financial (NYSE:SNV) Target Price to $43.00

Synovus Financial (NYSE:SNV - Free Report) had its target price lowered by Jefferies Financial Group from $46.00 to $43.00 in a research report report published on Monday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the bank's stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada restated an outperform rating and issued a $42.00 price objective on shares of Synovus Financial in a research report on Friday, January 19th. The Goldman Sachs Group raised their price objective on shares of Synovus Financial from $33.00 to $37.00 and gave the company a neutral rating in a research report on Monday, December 18th. StockNews.com lowered shares of Synovus Financial from a hold rating to a sell rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. raised their price objective on shares of Synovus Financial from $46.00 to $50.00 and gave the company an overweight rating in a research report on Thursday. Finally, Raymond James upgraded shares of Synovus Financial from an outperform rating to a strong-buy rating and lifted their target price for the company from $34.00 to $45.00 in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $40.81.

Synovus Financial Stock Performance

NYSE:SNV traded up $0.78 on Monday, reaching $39.03. 641,312 shares of the company's stock were exchanged, compared to its average volume of 1,457,015. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 11.28 and a beta of 1.40. Synovus Financial has a 52 week low of $24.40 and a 52 week high of $40.92. The stock has a fifty day simple moving average of $37.87 and a 200-day simple moving average of $33.96.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its earnings results on Wednesday, January 17th. The bank reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.94 by ($0.14). Synovus Financial had a return on equity of 14.95% and a net margin of 15.74%. The business had revenue of $488.68 million for the quarter, compared to the consensus estimate of $527.60 million. As a group, sell-side analysts predict that Synovus Financial will post 4.02 earnings per share for the current year.

Synovus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Wednesday, March 20th. Synovus Financial's dividend payout ratio (DPR) is presently 43.93%.

Insider Buying and Selling

In related news, EVP Thomas T. Dierdorff sold 2,045 shares of Synovus Financial stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the transaction, the executive vice president now directly owns 11,086 shares of the company's stock, valued at $423,817.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Thomas T. Dierdorff sold 2,045 shares of Synovus Financial stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the transaction, the executive vice president now directly owns 11,086 shares of the company's stock, valued at $423,817.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tim E. Bentsen sold 4,671 shares of Synovus Financial stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $38.62, for a total transaction of $180,394.02. Following the completion of the transaction, the director now directly owns 33,144 shares in the company, valued at $1,280,021.28. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank's stock valued at $27,000 after purchasing an additional 557 shares during the period. International Assets Investment Management LLC purchased a new position in Synovus Financial during the 4th quarter valued at $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Synovus Financial during the 4th quarter valued at $30,000. Lazard Asset Management LLC increased its position in Synovus Financial by 64.8% during the 4th quarter. Lazard Asset Management LLC now owns 809 shares of the bank's stock valued at $30,000 after purchasing an additional 318 shares during the period. Finally, American National Bank purchased a new position in Synovus Financial during the 4th quarter valued at $38,000. 83.85% of the stock is owned by hedge funds and other institutional investors.

Synovus Financial Company Profile

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.