Wall Street analysts expect Synovus Financial Corp. (NYSE:SNV) reports earnings of $1.03 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts provided earnings estimates for Synovus Financial, with the lowest EPS estimate of $0.92 and the highest estimate of $1.15. Synovus Financial reported earnings per share of $1.21 in the same quarter last year, which would indicate a negative 14.9% year-over-year growth rate. The company is expected to release its next quarterly results on Tuesday, April 19.
According to Zacks, analysts expect Synovus Financial to report annual earnings of $4.36 per share for the current fiscal year, with EPS estimates ranging from $4.15 to $4.57. For the next fiscal year, analysts expect the company to post earnings of $4.92 per share, with EPS estimates ranging from $4.66 to $5.35. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of research firms that cover Synovus Financial.
Synovus Financial (NYSE:SNV) last released its results on Thursday, January 20. The bank reported earnings per share (EPS) of $1.35 for the quarter, beating the consensus estimate of $1.08 by $0.27. Synovus Financial posted a net margin of 36.15% and a return on equity of 16.18%. During the same quarter last year, the company posted EPS of $1.08.
Several research analysts have recently weighed in on SNV shares. Raymond James raised his price target on Synovus Financial shares from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, Jan. 21. Morgan Stanley raised its price target on Synovus Financial shares from $60.00 to $68.00 and gave the company an “overweight” rating in a Monday, Dec. 6 report. Finally, JPMorgan Chase & Co. upgraded shares of Synovus Financial from a “neutral” rating to an “overweight” rating and raised its price target for the stock from $53.00 to $56.00 in a report of Wednesday 15 December. One investment analyst gave the stock a hold rating and seven gave the company’s stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $56.67.
Separately, Chairman Kessel D. Stelling sold 50,000 shares of Synovus Financial in a trade on Tuesday, January 4. The shares were sold at an average price of $49.74, for a total transaction of $2,487,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, Executive Vice President Mark G. Holladay sold 1,500 shares of Synovus Financial in a trade on Wednesday, December 1. The stock was sold at an average price of $46.60, for a total transaction of $69,900.00. Disclosure of this sale can be found here. Insiders sold a total of 60,663 shares of the company valued at $3,015,050 in the past ninety days. 1.11% of the shares are currently held by insiders.
A number of large investors have recently changed their positions in SNV. Sageworth Trust Co of South Dakota acquired a new stake in Synovus Financial during Q4 for $25,000. Covestor Ltd acquired a new stake in Synovus Financial during the 4th quarter for a value of $29,000. Smith Group Asset Management LLC acquired a new stake in Synovus Financial during Q4 for $39,000. HHM Wealth Advisors LLC acquired a new stake in Synovus Financial during Q3 valued at $49,000. Finally, Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Synovus Financial during the 2nd quarter for a value of $73,000. Hedge funds and other institutional investors hold 76.95% of the company’s shares.
Shares of SNV traded down $0.26 during Friday’s midday session, hitting $52.17. 22,635 shares of the company were traded, against an average volume of 1,111,438. Synovus Financial has a 1-year low of $38.42 and a 1-year high of $54.40. The company has a debt ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.86. The company has a 50-day moving average of $49.97 and a 200-day moving average of $46.76. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 10.63, a growth price-to-earnings ratio of 2.26 and a beta of 1.53.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3. Investors of record on Thursday, December 16 received a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 15. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 2.53%. Synovus Financial’s payout ratio is currently 26.94%.
Synovus Financial Company Profile
Synovus Financial Corp. is a bank holding company that provides financial services. The Company operates through the following segments: community banking, wholesale banking and financial management services (FMS). The Community Banking business segment serves customers using a relationship-based approach through its network of branches, ATMs, commerce and private wealth, in addition to mobile, internet and telephone banking. .
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