Somewhat Positive Press Coverage Somewhat Unlikely to Impact Synovus Financial (NYSE:SNV) Share Price

News articles about Synovus Financial (NYSE:SNV) have trended somewhat positive this week, Accern Sentiment reports. The research firm ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Synovus Financial earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave news articles about the bank an impact score of 46.3370704651065 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

These are some of the media headlines that may have effected Accern’s analysis:

Shares of Synovus Financial stock traded down $1.01 during trading hours on Thursday, reaching $50.69. 201,254 shares of the company’s stock were exchanged, compared to its average volume of 810,472. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.60. Synovus Financial has a 12-month low of $37.95 and a 12-month high of $53.14. The company has a market cap of $6,133.45, a price-to-earnings ratio of 23.36, a P/E/G ratio of 1.89 and a beta of 1.11.

Synovus Financial (NYSE:SNV) last released its earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. The company had revenue of $339.07 million for the quarter, compared to the consensus estimate of $338.60 million. Synovus Financial had a net margin of 18.27% and a return on equity of 11.20%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. analysts expect that Synovus Financial will post 3.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Synovus Financial’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 14th. Synovus Financial’s dividend payout ratio (DPR) is currently 46.08%.

Synovus Financial announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

SNV has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Synovus Financial from a “buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a report on Friday, January 5th. SunTrust Banks reaffirmed a “buy” rating and set a $54.00 price objective on shares of Synovus Financial in a research report on Wednesday, November 29th. Bank of America boosted their target price on shares of Synovus Financial from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Morgan Stanley upgraded shares of Synovus Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $51.67 to $52.00 in a research note on Wednesday, March 7th. Finally, Stephens restated a “buy” rating and issued a $56.00 price objective on shares of Synovus Financial in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Synovus Financial currently has a consensus 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 Synovus Financial stock in a transaction 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 completion of the transaction, the vice president now directly owns 52,063 shares of the company’s stock, valued at $2,611,480.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Allen J. Gula sold 2,450 shares of Synovus Financial stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $50.22, for a total value of $123,039.00. Following the sale, the chief operating officer now directly owns 70,111 shares of the company’s stock, valued at approximately $3,520,974.42. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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Synovus Financial Company Profile

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.

Insider Buying and Selling by Quarter for Synovus Financial (NYSE:SNV)

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