Synovus Financial (SNV) Set to Announce Quarterly Earnings on Wednesday

Synovus Financial (NYSE:SNVGet Free Report) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 17th. Analysts expect Synovus Financial to post earnings of $1.00 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Synovus Financial (NYSE:SNVGet Free Report) last announced its quarterly earnings results on Wednesday, January 17th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.14). The company had revenue of $488.68 million during the quarter, compared to analysts’ expectations of $527.60 million. Synovus Financial had a return on equity of 14.95% and a net margin of 15.74%. On average, analysts expect Synovus Financial to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Synovus Financial Price Performance

Shares of Synovus Financial stock opened at $36.83 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.89. Synovus Financial has a one year low of $24.40 and a one year high of $40.92. The stock has a market capitalization of $5.39 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 3.96 and a beta of 1.40. The business’s 50 day simple moving average is $37.88 and its two-hundred day simple moving average is $34.32.

Synovus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were paid a $0.38 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.52 annualized dividend and a yield of 4.13%. Synovus Financial’s payout ratio is 43.93%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNV shares. Wells Fargo & Company upped their price target on Synovus Financial from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Barclays began coverage on Synovus Financial in a report on Friday, March 8th. They set an “equal weight” rating and a $42.00 price target on the stock. Stephens initiated coverage on Synovus Financial in a report on Tuesday, December 19th. They set an “equal weight” rating and a $40.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Synovus Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, DA Davidson reiterated a “buy” rating on shares of Synovus Financial in a research report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synovus Financial presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Read Our Latest Analysis on SNV

Insider Activity at Synovus Financial

In related news, EVP Thomas T. Dierdorff sold 2,045 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the completion of the transaction, the executive vice president now owns 11,086 shares of the company’s stock, valued at $423,817.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Thomas T. Dierdorff sold 2,045 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $38.23, for a total transaction of $78,180.35. Following the transaction, the executive vice president now directly owns 11,086 shares of the company’s stock, valued at $423,817.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tim E. Bentsen sold 4,671 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $38.62, for a total transaction of $180,394.02. Following the sale, the director now directly owns 33,144 shares in the company, valued at $1,280,021.28. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synovus Financial

Several hedge funds have recently added to or reduced their stakes in SNV. Vanguard Group Inc. boosted its stake in shares of Synovus Financial by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,996,954 shares of the bank’s stock worth $562,536,000 after acquiring an additional 170,332 shares in the last quarter. BlackRock Inc. raised its holdings in Synovus Financial by 1.6% in the 1st quarter. BlackRock Inc. now owns 14,098,433 shares of the bank’s stock valued at $434,655,000 after acquiring an additional 228,708 shares during the last quarter. State Street Corp raised its holdings in Synovus Financial by 15.7% in the 1st quarter. State Street Corp now owns 6,937,880 shares of the bank’s stock valued at $216,502,000 after acquiring an additional 941,244 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Synovus Financial by 1.1% during the 4th quarter. Alliancebernstein L.P. now owns 3,717,396 shares of the bank’s stock worth $139,588,000 after buying an additional 39,915 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Synovus Financial by 0.5% during the 2nd quarter. Macquarie Group Ltd. now owns 3,015,020 shares of the bank’s stock worth $108,691,000 after buying an additional 14,336 shares during the last quarter. 83.85% of the stock is owned by hedge funds and other institutional investors.

About Synovus Financial

(Get Free Report)

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.

Featured Stories

Earnings History for Synovus Financial (NYSE:SNV)

Receive News & Ratings for Synovus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial and related companies with MarketBeat.com's FREE daily email newsletter.