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. Investors that wish to listen to the company’s conference call can do so using this link.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $1.16 earnings per share 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 analyst estimates of $543.52 million. Synovus Financial had a net margin of 8.40% and a return on equity of 12.76%. Synovus Financial’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business 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 Performance

SNV opened at $45.81 on Monday. 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 firm’s 50-day moving average price is $43.72 and its 200 day moving average price is $40.99. Synovus Financial has a twelve month low of $24.40 and a twelve month high of $47.83. The firm has a market capitalization of $6.60 billion, a PE 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. Shareholders of record on Thursday, September 19th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, September 19th. Synovus Financial’s dividend payout ratio (DPR) is presently 93.25%.

Insider Buying and Selling

In related news, EVP Thomas T. Dierdorff sold 614 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.20, for a total transaction of $28,366.80. Following the sale, the executive vice president now owns 14,833 shares of the company’s stock, valued at approximately $685,284.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James raised shares of Synovus Financial from a “market perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods lifted their price target on shares of Synovus Financial from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Wells Fargo & Company lowered shares of Synovus Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $48.00 to $46.00 in a research note on Tuesday, October 1st. StockNews.com lowered shares of Synovus Financial from a “hold” rating to a “sell” rating in a research note on Thursday, September 12th. Finally, Jefferies Financial Group lifted their target price on shares of Synovus Financial from $44.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Synovus Financial presently has an average rating of “Moderate Buy” and an average target price 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.