Synovus Financial (SNV) Set to Announce Earnings on Wednesday

Synovus Financial (NYSE:SNV) will be releasing its earnings data after the market closes on Wednesday, October 16th. Analysts expect Synovus Financial to post earnings of $1.10 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.20. Synovus Financial had a net margin of 8.40% and a return on equity of 12.76%. The firm had revenue of $563.60 million during the quarter, compared to the consensus estimate of $543.52 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts expect Synovus Financial to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Synovus Financial Trading Up 4.2 %

Shares of SNV stock opened at $45.81 on Monday. Synovus Financial has a 1 year low of $24.40 and a 1 year high of $47.83. The firm has a fifty day moving average price of $43.72 and a 200-day moving average price of $40.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.05 and a beta of 1.38.

Synovus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, September 19th. Synovus Financial’s dividend payout ratio is currently 93.25%.

Insider Buying and Selling

In other Synovus Financial news, EVP Thomas T. Dierdorff sold 614 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.20, for a total value of $28,366.80. Following the completion of the transaction, the executive vice president now owns 14,833 shares of the company’s stock, valued at approximately $685,284.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James raised shares of Synovus Financial from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Tuesday, September 17th. Morgan Stanley upped their target price on shares of Synovus Financial from $41.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial upped their target price on shares of Synovus Financial from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Barclays increased their price objective on shares of Synovus Financial from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Stephens increased their price objective on shares of Synovus Financial from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.94.

About Synovus Financial

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.