FY2025 EPS Estimates for Synovus Financial Corp. (NYSE:SNV) Decreased by Analyst

Synovus Financial Corp. (NYSE:SNV) – Stock analysts at DA Davidson reduced their FY2025 EPS estimates for shares of Synovus Financial in a research report issued on Monday, April 22nd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $4.39 per share for the year, down from their previous estimate of $4.57. DA Davidson currently has a “Buy” rating and a $43.00 price objective on the stock. The consensus estimate for Synovus Financial’s current full-year earnings is $3.80 per share.

A number of other analysts have also recently commented on SNV. JPMorgan Chase & Co. lowered their price objective on shares of Synovus Financial from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. UBS Group upped their price objective on shares of Synovus Financial from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 price objective (down previously from $46.00) on shares of Synovus Financial in a research report on Friday, April 19th. Truist Financial lowered their price objective on shares of Synovus Financial from $45.00 to $39.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wells Fargo & Company lowered their price objective on shares of Synovus Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.38.

Synovus Financial Price Performance

SNV opened at $36.59 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. Synovus Financial has a 12 month low of $24.40 and a 12 month high of $40.92. The company has a fifty day simple moving average of $37.92 and a 200 day simple moving average of $34.79. The stock has a market cap of $5.36 billion, a P/E ratio of 12.53, a P/E/G ratio of 4.19 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last issued its earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a net margin of 13.29% and a return on equity of 12.93%. The business had revenue of $537.73 million for the quarter, compared to the consensus estimate of $547.62 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The business’s revenue was down 12.4% on a year-over-year basis.

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 21st were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, March 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.15%. Synovus Financial’s dividend payout ratio is 52.05%.

Hedge Funds Weigh In On Synovus Financial

Large investors have recently modified their holdings of the business. Allworth Financial LP boosted its stake in shares of Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock worth $27,000 after buying an additional 557 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Synovus Financial in the 4th quarter valued at about $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in Synovus Financial in the 4th quarter valued at about $30,000. First Command Advisory Services Inc. acquired a new stake in Synovus Financial in the 3rd quarter valued at about $33,000. Finally, American National Bank acquired a new stake in Synovus Financial in the 4th quarter valued at about $38,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Company Profile

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.