According to Bloomberg Ratings, the twelve rating agencies covering Synovus Financial Corp. (NYSE: SNV) have given the company’s shares an average “Moderate Buy” recommendation for investors to consider purchasing them. This rating suggests that potential buyers of the company’s shares should give serious consideration to doing so. Six different equity research analysts have given the company a buy rating. In contrast, the stock has been assigned a hold recommendation by three, and one of them has given the company a moderate buy recommendation. This rating suggests that potential buyers of the company’s shares should give serious consideration to doing so. The stock has been recommended to hold by three of the equity research analysts, while the company itself has been given a buy rating by six of them. Analysts have provided their opinions on the stock within the past year, and their average price target for the stock within the following year is $47.30.
Recent analyst reports have focused almost exclusively on SNV, making up most of those reports. On Friday, October 21, Raymond James released a research report that lowered their price objective on Synovus Financial from $48.00 to $45.00 and gave the company an “outperform” rating overall. Morgan Stanley published a research note on Monday, December 5, announcing that it would begin covering Synovus Financial. The note was sent out to clients. The target price for the company was determined to be $44.00, and the analysts gave it an “equal weight” rating. Truist Financial announced in a research note released on Thursday, September 15, that they had decreased their price target for Synovus Financial to $49.00. DA Davidson increased their price target on Synovus Financial in a research report published on Friday, December 9. The report was about the company’s stock.
Compared to the previous price target of $42.50, the new price target has been established at $45.50. In a research report that was made public on Friday, October 21, Wells Fargo & Company lowered its price target on Synovus Financial from $60.00 to $55.00 and rated the stock as “overweight.” The report was written about the company’s outlook for the stock. The report was about Synovus Financial.
NYSE: SNV began trading for $35.84 on Monday when the market opened. The company’s stock has a price-to-earnings ratio of 7.30, a price-to-earnings-to-growth ratio of 5.11, and a beta value of 1.34, giving the company a market capitalization of $5.21 billion. In the past year, Synovus Financial has traded as low as $34.15 and as high as $54.40. It is currently at its lowest point in the last year, with a price of $34.15.The debt-to-equity ratio is 1.20, the current ratio is 0.93, and the quick ratio is 0.92. These numbers settle at 1.20, 0.93, and 0.92, respectively. The stock’s 50-day moving average is currently sitting at $40.22, while the stock’s 200-day moving average is currently at $39.60.
Synovus Financial (NYSE: SNV) disseminated the findings of its most recent quarterly earnings report on Thursday, October 20. The earnings per share that the bank reported for the quarter came in at $1.34, which was $0.06 higher than the earnings per share estimate reached by the financial community, which was $1.28. The actual revenue the company brought in during the quarter was $582.22 million, which is higher than the $570.52 million in revenue anticipated for the company during the quarter. For Synovus Financial, the return on equity was 17.83%, and the net margin for the company was 33.25%. The company posted earnings of $1.20 per share during the same period the year before when compared to the current year. Following the stock market, analysts expect Synovus Financial to report a profit of 4.88 dollars per share for the current fiscal year.
In addition, according to the announcement, the company recently made a statement regarding a quarterly dividend, which will be disbursed on January 3. On Friday, December 16, shareholders of record on Thursday, December 15, will be eligible to receive a $0.34 dividend payment per share. This equates to a dividend payment of $1.36 on an annualized basis and a yield of 3.79% on the dividend when calculated using this method. The date to pay the dividend must be met on December 14, which falls on a Wednesday. The payout ratio for dividends that Synovus Financial is in the process of distributing to shareholders currently stands at 27.70%.
In other news, Executive Vice President Allan E. Kamensky sold 663 shares of the company’s stock on November 14. This news is among other recent developments. The total cost of the shares was $29,039.40, which works out to an average price of $43.80 per share when divided among all the shares. As a result of the successful transaction completion, the executive vice president is now the owner of 5,090 company shares, which have a value of approximately $222,942. Should you follow this link, you will be taken to the SEC filing in which the transaction was discussed in greater detail. “Electronic commerce” is the term used to describe the buying and selling of digital goods through the internet.
Recent months have seen significant investors reduce or increase the amount of SNV stock they are currently vested in. The Northwestern Mutual Wealth Management Company increased the amount of Synovus Financial stock owned by 7.7% during the first three months of 2018. After purchasing an additional 263 shares during the relevant period, Northwestern Mutual Wealth Management Co. now holds 3,681 shares of the bank’s stock, each of which has a value of $180,000. This brings the total number of shares owned by the company to 3,681. The percentage of Synovus Financial stock Van ECK Associates Corp. owned increased by 15.9 percentage points over the first three months of 2018. Following the acquisition of a further 487 shares throughout the quarter, Van ECK Associates Corp. is now the proud owner of 3,546 shares held by the bank. The combined value of all of their assets comes to $174,000 in total. During the first three months of 2018, Aaron Wealth Advisors LLC made a new investment in Synovus Financial worth $240,000. A person who does not have a job with the government is referred to as “independent,” and this is the term’s meaning. During the period, Profund Advisors LLC increased its holdings in the company’s stock by purchasing an additional 572 shares, bringing the total number of shares held by the company to 10,071 shares, which have a market value of $493,000.
Last but not least, during the first three months of 2018, Raymond James Financial Services Advisors Inc. grew its ownership stake in Synovus Financial by 10.4%, bringing the total amount of its ownership stake to a total of 58.6%. After making an additional 1,401 stock purchases during the relevant period, Raymond James Financial Services Advisors Inc. now has 14,877 shares of the bank’s stock, which are worth a total of $729,000 in their portfolio. 80.41 percent of the company’s stock is owned by institutional investors who have purchased large shares.
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