Fintel reports that on May 19, 2023, Goldman Sachs maintained coverage of Synovus Financial (NYSE:SNV) with a Neutral recommendation.

Analyst Price Forecast Suggests 37.58% Upside

As of May 11, 2023, the average one-year price target for Synovus Financial is 38.58. The forecasts range from a low of 30.30 to a high of $52.50. The average price target represents an increase of 37.58% from its latest reported closing price of 28.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Synovus Financial is 2,436MM, an increase of 9.87%. The projected annual non-GAAP EPS is 5.14.

What is the Fund Sentiment?

There are 844 funds or institutions reporting positions in Synovus Financial. This is a decrease of 34 owner(s) or 3.87% in the last quarter. Average portfolio weight of all funds dedicated to SNV is 0.26%, an increase of 5.80%. Total shares owned by institutions decreased in the last three months by 2.43% to 132,345K shares. The put/call ratio of SNV is 0.65, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 7,271K shares representing 4.98% ownership of the company. In it’s prior filing, the firm reported owning 9,982K shares, representing a decrease of 37.28%. The firm decreased its portfolio allocation in SNV by 91.66% over the last quarter.

Synovus Financial holds 5,750K shares representing 3.94% ownership of the company. In it’s prior filing, the firm reported owning 5,786K shares, representing a decrease of 0.63%. The firm decreased its portfolio allocation in SNV by 51.80% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,492K shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 4,248K shares, representing an increase of 5.43%. The firm decreased its portfolio allocation in SNV by 7.61% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,199K shares representing 2.87% ownership of the company. In it’s prior filing, the firm reported owning 4,112K shares, representing an increase of 2.08%. The firm decreased its portfolio allocation in SNV by 5.59% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,560K shares representing 2.44% ownership of the company. In it’s prior filing, the firm reported owning 3,506K shares, representing an increase of 1.51%. The firm decreased its portfolio allocation in SNV by 5.90% 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.

Key filings for this company:

• Annual Report – 10-K

This article originally appeared on Fintel