Synovus Financial Corp. (NYSE:SNV) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Synovus Financial Corp. has received a consensus rating of "Moderate Buy" from 18 brokerages, with nine analysts recommending buy ratings and nine recommending hold ratings.
• The company's stock is currently priced at $51.75, with a market capitalization of $7.18 billion and a 52-week range between $35.94 and $61.06.
• Synovus Financial recently announced a quarterly dividend of $0.39 per share, offering an annualized yield of 3.0% while maintaining a dividend payout ratio of approximately 29.94%.

Shares of Synovus Financial Corp. (NYSE:SNV - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen brokerages that are presently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $58.8333.

Several analysts have weighed in on the stock. Wells Fargo & Company reissued an "equal weight" rating and issued a $58.00 price target (down from $62.00) on shares of Synovus Financial in a research note on Friday, July 25th. Truist Financial boosted their price target on shares of Synovus Financial from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. DA Davidson boosted their price target on shares of Synovus Financial from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Morgan Stanley boosted their price target on shares of Synovus Financial from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Synovus Financial from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st.

Synovus Financial Trading Up 1.3%

Synovus Financial stock traded up $0.69 during mid-day trading on Friday, hitting $52.11. The company's stock had a trading volume of 1,448,888 shares, compared to its average volume of 1,668,360. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22. The business has a 50 day moving average price of $51.00 and a 200-day moving average price of $48.20. Synovus Financial has a 12 month low of $35.94 and a 12 month high of $61.06.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.23. The business had revenue of $592.08 million during the quarter, compared to the consensus estimate of $584.89 million. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. During the same period in the previous year, the firm posted $1.16 earnings per share. Synovus Financial has set its FY 2025 guidance at EPS. As a group, analysts forecast that Synovus Financial will post 4.89 EPS for the current year.

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 18th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, September 18th. Synovus Financial's dividend payout ratio is 29.94%.

Insider Activity

In other news, Director Gregory G. Montana bought 1,000 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $46.74 per share, for a total transaction of $46,740.00. Following the completion of the purchase, the director owned 4,341 shares in the company, valued at approximately $202,898.34. This represents a 29.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin S. Blair bought 4,040 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of $49.40 per share, for a total transaction of $199,576.00. Following the purchase, the chief executive officer owned 164,378 shares of the company's stock, valued at approximately $8,120,273.20. This represents a 2.52% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 8,040 shares of company stock worth $392,916. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNV. AQR Capital Management LLC lifted its position in Synovus Financial by 168.2% during the first quarter. AQR Capital Management LLC now owns 2,857,222 shares of the bank's stock valued at $130,546,000 after purchasing an additional 1,791,973 shares during the period. Norges Bank bought a new position in Synovus Financial during the second quarter valued at approximately $89,347,000. Invesco Ltd. lifted its position in Synovus Financial by 201.0% during the first quarter. Invesco Ltd. now owns 820,782 shares of the bank's stock valued at $38,363,000 after purchasing an additional 548,092 shares during the period. Millennium Management LLC lifted its position in Synovus Financial by 125.5% during the first quarter. Millennium Management LLC now owns 646,098 shares of the bank's stock valued at $30,199,000 after purchasing an additional 359,568 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Synovus Financial by 393.8% during the first quarter. MetLife Investment Management LLC now owns 394,468 shares of the bank's stock valued at $18,437,000 after purchasing an additional 314,576 shares during the period. Institutional investors own 83.85% of the company's stock.

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.