Synovus Financial (NYSE:SNV) Price Target Cut to $46.00 by Analysts at Stephens

Synovus Financial (NYSE:SNV - Get Free Report) had its price objective cut by stock analysts at Stephens from $52.00 to $46.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Stephens' target price would indicate a potential upside of 7.00% from the stock's previous close.

Several other equities analysts have also commented on SNV. Citigroup upped their price target on Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Morgan Stanley dropped their price target on shares of 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. JPMorgan Chase & Co. boosted their price target on shares of Synovus Financial from $60.50 to $62.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Barclays lowered their price objective on shares of 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, Raymond James lowered Synovus Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $56.17.

Synovus Financial Trading Down 0.8 %

Shares of SNV traded down $0.33 during mid-day trading on Monday, reaching $42.99. The stock had a trading volume of 971,381 shares, compared to its average volume of 1,420,019. Synovus Financial has a 52-week low of $35.74 and a 52-week high of $59.92. The firm has a market cap 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 business's fifty day moving average is $45.38 and its 200 day moving average is $50.69. 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 (NYSE:SNV - Get Free Report) last posted 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. The business had revenue of $573.24 million during the quarter, compared to analysts' expectations of $572.35 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. On average, sell-side analysts predict that Synovus Financial will post 4.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Synovus Financial in the 4th quarter valued at $77,209,000. AQR Capital Management LLC raised its stake in Synovus Financial by 226.5% in the fourth quarter. AQR Capital Management LLC now owns 1,065,249 shares of the bank's stock valued at $54,573,000 after buying an additional 738,983 shares in the last quarter. FMR LLC lifted its holdings in Synovus Financial by 3.6% during the 4th quarter. FMR LLC now owns 12,041,625 shares of the bank's stock worth $616,892,000 after buying an additional 415,201 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Synovus Financial by 349.4% during the 4th quarter. Prudential Financial Inc. now owns 529,147 shares of the bank's stock worth $27,108,000 after buying an additional 411,411 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Synovus Financial by 5,495.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 349,866 shares of the bank's stock worth $17,924,000 after acquiring an additional 343,613 shares in the last quarter. 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.