Synovus Financial (SNV) to Release Quarterly Earnings on Wednesday

Synovus Financial (NYSE:SNV) will announce its earnings results after the market closes on Wednesday, October 16th. Analysts expect the company to announce earnings of $1.10 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Synovus Financial (NYSE:SNV) last issued its earnings results on Wednesday, July 17th. The bank reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.20. The firm had revenue of $563.60 million for the quarter, compared to analysts’ expectations of $543.52 million. Synovus Financial had a net margin of 8.40% and a return on equity of 12.76%. Synovus Financial’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. 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 Stock Up 1.6 %

Shares of Synovus Financial stock opened at $46.54 on Tuesday. Synovus Financial has a twelve month low of $24.40 and a twelve month high of $47.83. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.05 and a beta of 1.38. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $43.83 and its 200-day simple moving average is $41.04.

Synovus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Thursday, September 19th. Synovus Financial’s dividend payout ratio (DPR) is 52.05%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Synovus Financial from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Royal Bank of Canada increased their price target on Synovus Financial from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Raymond James upgraded shares of Synovus Financial from a “market perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Tuesday, September 17th. Barclays increased their target price on shares of Synovus Financial from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, DA Davidson raised their price objective on shares of Synovus Financial from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.94.

Insider Activity at Synovus Financial

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

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.