Synovus Financial Corp. (NYSE:SNV) – Research analysts at Piper Sandler issued their Q1 2020 EPS estimates for shares of Synovus Financial in a note issued to investors on Sunday, January 26th. Piper Sandler analyst B. Milsaps anticipates that the bank will post earnings of $0.82 per share for the quarter. Piper Sandler also issued estimates for Synovus Financial’s Q2 2020 earnings at $0.84 EPS, Q3 2020 earnings at $0.87 EPS, Q4 2020 earnings at $0.92 EPS, Q1 2021 earnings at $0.86 EPS, Q2 2021 earnings at $0.94 EPS, Q3 2021 earnings at $0.98 EPS, Q4 2021 earnings at $1.02 EPS and FY2021 earnings at $3.80 EPS.
A number of other equities research analysts have also recently commented on SNV. Raymond James cut shares of Synovus Financial from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $46.00 to $41.00 in a research note on Monday. Morgan Stanley decreased their target price on shares of Synovus Financial from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Stephens restated a “buy” rating and set a $42.00 target price on shares of Synovus Financial in a research note on Friday, October 11th. Royal Bank of Canada restated a “hold” rating and set a $39.00 target price on shares of Synovus Financial in a research note on Monday. Finally, ValuEngine upgraded shares of Synovus Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $42.55.
NYSE SNV opened at $36.02 on Wednesday. Synovus Financial has a 12 month low of $31.80 and a 12 month high of $40.41. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.25 and a beta of 1.36. The company’s 50 day moving average is $38.78 and its two-hundred day moving average is $36.76. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.49.
Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Friday, January 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.03). Synovus Financial had a net margin of 23.43% and a return on equity of 14.09%. The business had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $484.72 million. During the same period last year, the company posted $0.92 EPS. Synovus Financial’s revenue for the quarter was up 36.0% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in SNV. Salzhauer Michael raised its holdings in shares of Synovus Financial by 10.3% in the third quarter. Salzhauer Michael now owns 99,758 shares of the bank’s stock valued at $3,568,000 after acquiring an additional 9,300 shares in the last quarter. WBI Investments Inc. acquired a new stake in Synovus Financial during the third quarter worth about $397,000. Stifel Financial Corp increased its stake in Synovus Financial by 41.6% during the third quarter. Stifel Financial Corp now owns 70,776 shares of the bank’s stock worth $2,547,000 after acquiring an additional 20,798 shares during the last quarter. First Trust Advisors LP increased its stake in Synovus Financial by 14.9% during the third quarter. First Trust Advisors LP now owns 346,405 shares of the bank’s stock worth $12,387,000 after acquiring an additional 44,869 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new stake in Synovus Financial during the fourth quarter worth about $236,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Wednesday, December 18th. Synovus Financial’s payout ratio is currently 30.77%.
About Synovus Financial
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.