Fintel reports that on October 23, 2023, Truist Securities maintained coverage of Synovus Financial (NYSE:SNV) with a Buy recommendation.
Analyst Price Forecast Suggests 47.19% Upside
As of October 5, 2023, the average one-year price target for Synovus Financial is 37.40. The forecasts range from a low of 29.29 to a high of $47.25. The average price target represents an increase of 47.19% from its latest reported closing price of 25.41.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Synovus Financial is 2,436MM, an increase of 12.92%. The projected annual non-GAAP EPS is 5.14.
What is the Fund Sentiment?
There are 796 funds or institutions reporting positions in Synovus Financial. This is a decrease of 13 owner(s) or 1.61% in the last quarter. Average portfolio weight of all funds dedicated to SNV is 0.23%, an increase of 3.16%. Total shares owned by institutions increased in the last three months by 0.66% to 133,435K shares. 
The put/call ratio of SNV is 1.02, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 6,398K shares representing 4.38% ownership of the company. In it's prior filing, the firm reported owning 7,271K shares, representing a decrease of 13.66%. The firm increased its portfolio allocation in SNV by 485.10% over the last quarter.
Synovus Financial holds 5,785K shares representing 3.96% ownership of the company. In it's prior filing, the firm reported owning 5,750K shares, representing an increase of 0.61%. The firm increased its portfolio allocation in SNV by 60.55% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,432K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 4,488K shares, representing a decrease of 1.26%. The firm decreased its portfolio allocation in SNV by 7.18% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,311K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 4,271K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in SNV by 8.63% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,584K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 3,617K shares, representing a decrease of 0.94%. The firm decreased its portfolio allocation in SNV by 7.52% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
