Fintel reports that on December 9, 2024, Deutsche Bank initiated coverage of Synovus Financial (NYSE:SNV) with a Buy recommendation.
Analyst Price Forecast Suggests 7.76% Upside
As of December 3, 2024, the average one-year price target for Synovus Financial is $59.10/share. The forecasts range from a low of $51.51 to a high of $70.35. The average price target represents an increase of 7.76% from its latest reported closing price of $54.84 / share.
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The projected annual revenue for Synovus Financial is 2,532MM, an increase of 44.63%. The projected annual non-GAAP EPS is 5.42.
What is the Fund Sentiment?
There are 855 funds or institutions reporting positions in Synovus Financial. This is an increase of 46 owner(s) or 5.69% in the last quarter. Average portfolio weight of all funds dedicated to SNV is 0.23%, an increase of 7.48%. Total shares owned by institutions increased in the last three months by 1.92% to 142,044K shares. 
The put/call ratio of SNV is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 9,674K shares representing 6.83% ownership of the company. In its prior filing, the firm reported owning 8,579K shares , representing an increase of 11.32%. The firm decreased its portfolio allocation in SNV by 82.83% over the last quarter.
Synovus Financial holds 5,615K shares representing 3.96% ownership of the company. In its prior filing, the firm reported owning 5,704K shares , representing a decrease of 1.60%. The firm decreased its portfolio allocation in SNV by 39.56% over the last quarter.
Charles Schwab Investment Management holds 4,993K shares representing 3.52% ownership of the company. In its prior filing, the firm reported owning 4,845K shares , representing an increase of 2.96%. The firm decreased its portfolio allocation in SNV by 10.03% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,501K shares representing 3.18% ownership of the company. In its prior filing, the firm reported owning 4,555K shares , representing a decrease of 1.20%. The firm decreased its portfolio allocation in SNV by 0.15% over the last quarter.
North Reef Capital Management holds 4,368K shares representing 3.08% ownership of the company. In its prior filing, the firm reported owning 3,750K shares , representing an increase of 14.14%. The firm increased its portfolio allocation in SNV by 29.83% over the last quarter.
Synovus Financial Background Information
(This description is provided by the company.)
Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $53 billion in assets. Synovus provides commercial and retail banking, investment, and mortgage services through 289 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank, a wholly owned subsidiary of Synovus, has been recognized as one of the country's 'Most Reputable Banks' by American Banker and the Reputation Institute.
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