Synovus Financial (NYSE:SNV – Get Free Report) had its target price lifted by stock analysts at Truist Financial from $52.00 to $57.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 16.11% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Stephens lifted their target price on shares of Synovus Financial from $46.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Synovus Financial from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Jefferies Financial Group increased their target price on Synovus Financial from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com raised Synovus Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley increased their price objective on Synovus Financial from $41.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.88.
Read Our Latest Stock Report on SNV
Synovus Financial Trading Up 0.5 %
Synovus Financial (NYSE:SNV – Get Free Report) last announced its earnings results on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $564.72 million for the quarter, compared to analyst estimates of $557.64 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. On average, equities research analysts anticipate that Synovus Financial will post 4.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Synovus Financial
Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Synovus Financial during the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its position in shares of Synovus Financial by 87.2% in the 3rd quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock worth $33,000 after buying an additional 348 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Synovus Financial during the second quarter valued at approximately $43,000. Abich Financial Wealth Management LLC raised its holdings in shares of Synovus Financial by 43.5% during the first quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank’s stock valued at $49,000 after acquiring an additional 371 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in Synovus Financial in the first quarter worth $51,000. 83.85% of the stock is owned by institutional investors.
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.
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