The price of Synovus Financial Corp. (NYSE:SNV) shares last traded on Wall Street fell -0.21% to $42.45.
Based on available information, 14 analysts follow Synovus Financial Corp. (NYSE:SNV). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $55.00 and a low of $40.00, we find $45.00. Given the previous closing price of $42.54, this indicates a potential upside of 5.78 percent. SNV stock price is now 6.40% away from the 50-day moving average and 0.32% away from the 200-day moving average. The market capitalization of the company currently stands at $6.20B.
Among analysts, 2 rate the stock a hold while 10 rate it a buy. Brokers who have rated the stock have averaged $46.35 as their price target over the next twelve months.
With the price target enhanced from $53 to $56, JP Morgan Upgraded its rating from Neutral to Overweight for Synovus Financial Corp. (NYSE: SNV). On March 24, 2021, Seaport Global Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $53, while ‘Jefferies’ rates the stock as ‘Buy’.
In other news, KAMENSKY ALLAN E, EVP and General Counsel sold 663 shares of the company’s stock on Nov 14. The stock was sold for $29,039 at an average price of $43.80. Upon completion of the transaction, the EVP and General Counsel now directly owns 5,090 shares in the company, valued at $0.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, Director PROCHASKA JOSEPH J JR bought 1,000 shares of the business’s stock. A total of $41,380 was incurred on buying the stock at an average price of $41.38. This leaves the insider owning 31,109 shares of the company worth $1.32 million. Insiders disposed of 324,555 shares of company stock worth roughly $13.78 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SNV stock. A new stake in Synovus Financial Corp. shares was purchased by WEDGE CAPITAL MANAGEMENT L L P/NC during the first quarter worth $30,696,000. HANCOCK WHITNEY CORP invested $14,554,000 in shares of SNV during the first quarter. In the first quarter, HUDSON BAY CAPITAL MANAGEMENT LP acquired a new stake in Synovus Financial Corp. valued at approximately $8,490,000. GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in SNV for approximately $4,490,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in SNV valued at around $4,292,000 in the second quarter. In total, there are 553 active investors with 82.30% ownership of the company’s stock.
A candlestick chart of Synovus Financial Corp. (NYSE: SNV) showed a price of $42.52 on Wednesday morning. During the past 12 months, Synovus Financial Corp. has had a low of $34.15 and a high of $54.40. The fifty day moving average price for SNV is $39.96 and a two-hundred day moving average price translates $42.26 for the stock.
The latest earnings results from Synovus Financial Corp. (NYSE: SNV) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $1.34, beating analysts’ expectations of $1.28 by 0.06. This compares to $1.21 EPS in the same period last year. The net profit margin was 39.10% and return on equity was 17.10% for SNV. The company reported revenue of $551.3 million for the quarter, compared to $412.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.65 percent. For the current quarter, analysts expect SNV to generate $586.78M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/03/2022. Investors who held shares on 09/15/2022 were paid a $0.34 dividend. On an annualized basis, this represents a $1.36 dividend and a 3.20% percent yield. There was an ex-dividend date of 09/14/2022 for this dividend. In terms of dividend payout ratio, SNV is presently at 27.30%.
Synovus Financial Corp.(SNV) Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and retail banking products and services. It operates through three segments: Community Banking, Wholesale Banking, and Financial Management Services. The company’s commercial banking services include treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans. Its retail banking services comprise accepting customary types of demand and savings deposits accounts; mortgage, installment, and other consumer loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services; and bank credit and debit card services. The company also offers various other financial services, including portfolio management for fixed-income securities, investment banking, execution of securities transactions as a broker/dealer, and financial planning services, as well as provides individual investment advice on equity and other securities. As of December 31, 2020, it operated through 289 branches and 389 ATMs in Alabama, Florida, Georgia, South Carolina, and Tennessee. The company was founded in 1888 and is headquartered in Columbus, Georgia.