News headlines about Synovus Financial (NYSE:SNV) have been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Synovus Financial earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave news stories about the bank an impact score of 47.0780299472198 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media headlines that may have effected Accern’s rankings:
- Ex-Dividend Reminder: BancorpSouth Bank, Broadridge Financial Solutions and Synovus Financial – Nasdaq (nasdaq.com)
- Synovus Financial (SNV) Rating Increased to Equal Weight at Morgan Stanley (americanbankingnews.com)
- Active Stock Evaluation – Synovus Financial Corp (NYSE: SNV) – Stocks Pen (stockspen.com)
- Morgan Stanley Upgrades Synovus Financial After Earnings, Profit Growth (finance.yahoo.com)
- Synovus Financial Corp. (SNV) Receives Consensus Rating of “Hold” from Brokerages (americanbankingnews.com)
Shares of Synovus Financial (NYSE SNV) traded down $0.43 during mid-day trading on Wednesday, hitting $51.93. 151,743 shares of the stock were exchanged, compared to its average volume of 785,240. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $6,275.87, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. Synovus Financial has a 12 month low of $37.95 and a 12 month high of $53.14.
Synovus Financial (NYSE:SNV) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. Synovus Financial had a net margin of 18.27% and a return on equity of 11.20%. The company had revenue of $339.07 million for the quarter, compared to analysts’ expectations of $338.60 million. During the same period in the prior year, the firm earned $0.54 EPS. Synovus Financial’s quarterly revenue was up 10.3% compared to the same quarter last year. research analysts anticipate that Synovus Financial will post 3.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.15. Synovus Financial’s dividend payout ratio is 27.65%.
Synovus Financial declared that its Board of Directors has approved a share buyback plan on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
A number of analysts have commented on SNV shares. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, December 26th. Hovde Group reaffirmed a “hold” rating and set a $53.00 target price on shares of Synovus Financial in a report on Tuesday, January 23rd. Morgan Stanley raised shares of Synovus Financial from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $51.67 to $52.00 in a report on Wednesday, March 7th. Barclays lifted their target price on shares of Synovus Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Stephens reissued a “buy” rating and issued a $56.00 price target on shares of Synovus Financial in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.08.
In other Synovus Financial news, VP Mark G. Holladay sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $50.16, for a total transaction of $250,800.00. Following the transaction, the vice president now owns 52,063 shares in the company, valued at approximately $2,611,480.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Allen J. Gula sold 2,450 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $50.22, for a total transaction of $123,039.00. Following the transaction, the chief operating officer now owns 70,111 shares in the company, valued at approximately $3,520,974.42. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
About Synovus Financial
Synovus Financial Corp. is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.
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