Synovus Financial (NYSE:SNV) Price Target Cut to $60.00 by Analysts at DA Davidson

Synovus Financial (NYSE:SNV - Free Report) had its price objective lowered by DA Davidson from $65.00 to $60.00 in a research report released on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the bank's stock. DA Davidson also issued estimates for Synovus Financial's Q2 2025 earnings at $1.21 EPS, FY2025 earnings at $5.07 EPS and FY2026 earnings at $5.48 EPS.

SNV has been the subject of a number of other reports. Citigroup boosted their price objective on shares of Synovus Financial from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Royal Bank of Canada decreased their price target on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company dropped their price objective on Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their target price on Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley dropped their target price on shares of Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Synovus Financial currently has an average rating of "Moderate Buy" and an average price target of $56.17.

Synovus Financial Trading Down 0.8 %

Synovus Financial stock traded down $0.33 during mid-day trading on Monday, reaching $42.99. 971,381 shares of the company traded hands, compared to its average volume of 1,420,019. The firm's 50 day moving average price is $45.38 and its 200 day moving average price is $50.69. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.11 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. Synovus Financial has a 52-week low of $35.74 and a 52-week high of $59.92.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, topping 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 analysts' expectations of $572.35 million. On average, analysts anticipate that Synovus Financial will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were issued a $0.39 dividend. The ex-dividend date was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.63%. This is a boost from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is currently 43.70%.

Institutional Trading of Synovus Financial

Large investors have recently added to or reduced their stakes in the company. Colonial Trust Co SC boosted its holdings in shares of Synovus Financial by 554.4% in the 4th quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock valued at $30,000 after acquiring an additional 499 shares during the last quarter. Keystone Financial Group Inc. purchased a new stake in Synovus Financial during the fourth quarter worth $37,000. Jones Financial Companies Lllp grew its position in Synovus Financial by 72.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock valued at $56,000 after buying an additional 461 shares during the period. V Square Quantitative Management LLC increased its holdings in Synovus Financial by 69.3% in the fourth quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock valued at $58,000 after buying an additional 466 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Synovus Financial in the 4th quarter worth about $59,000. Hedge funds and other 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.