Synovus Financial Corp. (NYSE:SNV) Receives Consensus Rating of "Moderate Buy" from 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 received an average recommendation of "Moderate Buy" from the eighteen brokerages that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $58.8333.

SNV has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut Synovus Financial from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $65.00 to $50.00 in a report on Tuesday, August 12th. UBS Group cut Synovus Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $63.00 to $56.00 in a report on Tuesday, September 2nd. Jefferies Financial Group initiated coverage on Synovus Financial in a report on Wednesday, May 21st. They set a "hold" rating and a $55.00 price target for the company. Wall Street Zen upgraded Synovus Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Raymond James Financial cut Synovus Financial from a "moderate buy" rating to a "hold" rating in a report on Monday, July 28th.

Synovus Financial Stock Performance

Shares of NYSE SNV opened at $51.75 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $51.29 and a 200 day moving average price of $48.18. The stock has a market capitalization of $7.18 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.22. Synovus Financial has a 52 week low of $35.94 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.23. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. The firm had revenue of $592.08 million for the quarter, compared to analyst estimates of $584.89 million. During the same period in the prior year, the firm posted $1.16 earnings per share. Synovus Financial has set its FY 2025 guidance at EPS. Analysts predict that Synovus Financial will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Kevin S. Blair acquired 4,040 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $49.40 per share, for a total transaction of $199,576.00. Following the completion of the transaction, the chief executive officer directly owned 164,378 shares of the company's stock, valued at approximately $8,120,273.20. The trade was a 2.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew J. Jr. Gregory acquired 2,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $48.90 per share, with a total value of $97,800.00. Following the completion of the transaction, the chief financial officer directly owned 58,220 shares of the company's stock, valued at approximately $2,846,958. The trade was a 3.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,040 shares of company stock worth $392,916. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Synovus Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC acquired a new stake in shares of Synovus Financial in the second quarter valued at approximately $31,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Synovus Financial in the second quarter valued at approximately $41,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Synovus Financial in the first quarter valued at approximately $47,000. IFP Advisors Inc raised its position in shares of Synovus Financial by 650.4% in the second quarter. IFP Advisors Inc now owns 1,058 shares of the bank's stock valued at $60,000 after buying an additional 917 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Synovus Financial in the second quarter valued at approximately $60,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

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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