Investment Analysts’ Weekly Ratings Changes for Synovus Financial (SNV)

Synovus Financial (NYSE: SNV) recently received a number of ratings updates from brokerages and research firms:

• 12/17/2024 – Synovus Financial is now covered by analysts at UBS Group AG. They set a “buy” rating and a $76.00 price target on the stock.
• 12/12/2024 – Synovus Financial had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $64.00 price target on the stock.
• 12/11/2024 – Synovus Financial had its price target raised by analysts at Piper Sandler from $56.00 to $64.00. They now have an “overweight” rating on the stock.
• 12/9/2024 – Synovus Financial is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $64.00 price target on the stock.
• 12/3/2024 – Synovus Financial had its price target raised by analysts at Wells Fargo & Company from $51.00 to $55.00. They now have an “equal weight” rating on the stock.
• 11/26/2024 – Synovus Financial had its price target raised by analysts at The Goldman Sachs Group, Inc. from $52.00 to $62.00. They now have a “neutral” rating on the stock.
• 11/8/2024 – Synovus Financial had its price target raised by analysts at Barclays PLC from $56.00 to $64.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – Synovus Financial had its price target raised by analysts at Evercore ISI from $48.00 to $54.00. They now have an “in-line” rating on the stock.
• 10/21/2024 – Synovus Financial had its price target raised by analysts at Morgan Stanley from $51.00 to $55.00. They now have an “equal weight” rating on the stock.
• 10/21/2024 – Synovus Financial had its price target raised by analysts at Truist Financial Co. from $52.00 to $57.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Synovus Financial was given a new $59.00 price target on by analysts at Citigroup Inc..
• 10/18/2024 – Synovus Financial had its price target raised by analysts at JPMorgan Chase & Co. from $52.00 to $59.00. They now have an “overweight” rating on the stock.
• 10/18/2024 – Synovus Financial had its price target raised by analysts at Barclays PLC from $49.00 to $56.00. They now have an “overweight” rating on the stock.
• 10/18/2024 – Synovus Financial had its price target raised by analysts at Royal Bank of Canada from $49.00 to $57.00. They now have an “outperform” rating on the stock.
• 10/18/2024 – Synovus Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/18/2024 – Synovus Financial had its price target raised by analysts at Stephens from $46.00 to $52.00. They now have an “equal weight” rating on the stock.
• 10/18/2024 – Synovus Financial had its price target raised by analysts at Bank of America Co. from $48.00 to $57.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Synovus Financial had its price target raised by analysts at DA Davidson from $53.00 to $60.00. They now have a “buy” rating on the stock.

Synovus Financial Price Performance

Shares of NYSE SNV traded down $1.39 during mid-day trading on Tuesday, reaching $53.36. The company had a trading volume of 1,399,043 shares, compared to its average volume of 1,392,448. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.56 billion, a PE ratio of 24.14, a P/E/G ratio of 1.58 and a beta of 1.38. The company has a 50-day moving average price of $52.94 and a two-hundred day moving average price of $46.04. Synovus Financial Corp. has a 1-year low of $33.44 and a 1-year high of $59.92.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The business had revenue of $564.72 million for the quarter, compared to the consensus estimate of $557.64 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. Synovus Financial’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Synovus Financial Corp. will post 4.37 earnings per share for the current year.

Synovus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.85%. Synovus Financial’s dividend payout ratio is currently 68.78%.

Institutional Trading of Synovus Financial

A number of institutional investors and hedge funds have recently made changes to their positions in SNV. &PARTNERS acquired a new position in shares of Synovus Financial during the 2nd quarter worth about $284,000. Texas Permanent School Fund Corp raised its holdings in Synovus Financial by 19.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 153,017 shares of the bank’s stock valued at $6,150,000 after acquiring an additional 25,028 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Synovus Financial by 7.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank’s stock valued at $6,525,000 after acquiring an additional 10,346 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Synovus Financial in the 3rd quarter valued at approximately $1,264,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Synovus Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank’s stock valued at $222,022,000 after purchasing an additional 147,599 shares during the period. Institutional investors and hedge funds own 83.85% of the company’s stock.

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.