Media headlines about Synovus Financial (NYSE:SNV) have been trending somewhat positive on Friday, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Synovus Financial earned a news sentiment score of 0.19 on Accern’s scale. Accern also assigned news headlines about the bank an impact score of 45.9508309126156 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:
- Synovus Financial Corp. (SNV) stock price moves 12.64% up oppose to an average of last 200 Days – The Stocks News (press release) (thestocksnews.com)
- Qualcomm Growth Depends on NXP Acquisition, Says Synovus Trust’s Morgan (finance.yahoo.com)
- Stock at 52-Week Low – Synovus Financial Corp. (SNV) – Should You Buy? – The Stocks News (press release) (thestocksnews.com)
- Brokerages Anticipate Synovus Financial Corp. (SNV) Will Announce Quarterly Sales of $341.73 Million (americanbankingnews.com)
- Analysts Expect Synovus Financial Corp. (SNV) Will Announce Earnings of $0.78 Per Share (americanbankingnews.com)
A number of analysts recently weighed in on SNV shares. SunTrust Banks reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Synovus Financial in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Synovus Financial in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, December 26th. Barclays upped their price objective on shares of Synovus Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Robert W. Baird reaffirmed an “average” rating and issued a $47.00 price objective on shares of Synovus Financial in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $52.08.
Synovus Financial (NYSE:SNV) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05. The business had revenue of $339.07 million during 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 firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. equities research analysts predict that Synovus Financial will post 3.41 EPS for the current year.
Synovus Financial declared that its Board of Directors has approved a share buyback program on Tuesday, January 23rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, March 14th. This is an increase from Synovus Financial’s previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Synovus Financial’s payout ratio is currently 46.08%.
In other news, VP Mark G. Holladay sold 5,000 shares of the company’s stock in a transaction dated 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 $2,611,480.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Allen J. Gula sold 2,450 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were 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. Insiders own 1.50% of the company’s stock.
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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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