Synovus Financial Corp. (NYSE:SNV) saw unusually large options trading on Tuesday. Stock investors acquired 4,503 put options on the stock. This is an increase of 1,437% compared to the average volume of 293 put options.
Shares of NYSE SNV traded down $0.08 during trading hours on Thursday, reaching $35.86. The stock had a trading volume of 1,549,813 shares, compared to its average volume of 2,289,703. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.17 and a beta of 1.25. Synovus Financial has a 52-week low of $29.93 and a 52-week high of $57.40.
Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $476.50 million during the quarter, compared to analyst estimates of $459.05 million. Synovus Financial had a return on equity of 15.61% and a net margin of 24.36%. Synovus Financial’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Analysts forecast that Synovus Financial will post 4 earnings per share for the current year.
Several equities research analysts have weighed in on SNV shares. Barclays raised Synovus Financial from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $47.00 to $45.00 in a research note on Thursday, January 10th. Stephens reissued a “hold” rating and set a $40.00 price objective on shares of Synovus Financial in a research note on Tuesday, January 15th. Sandler O’Neill set a $45.00 price objective on Synovus Financial and gave the stock a “buy” rating in a research note on Wednesday, January 16th. Piper Jaffray Companies raised Synovus Financial from a “neutral” rating to an “overweight” rating and upped their target price for the company from $44.00 to $45.00 in a research note on Tuesday, January 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $44.00 target price on shares of Synovus Financial in a research note on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Synovus Financial has an average rating of “Buy” and an average price target of $45.13.
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Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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