Research Analysts Issue Forecasts for SNV FY2025 Earnings

Synovus Financial Corp. (NYSE:SNV) – Stock analysts at DA Davidson increased their FY2025 earnings per share (EPS) estimates for shares of Synovus Financial in a research note issued to investors on Monday, January 20th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $5.45 for the year, up from their previous estimate of $4.76. DA Davidson currently has a “Buy” rating and a $60.00 target price on the stock. The consensus estimate for Synovus Financial’s current full-year earnings is $4.78 per share.

Synovus Financial (NYSE:SNV) last released its earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $580.58 million during the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share.

A number of other research firms have also weighed in on SNV. The Goldman Sachs Group increased their price target on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Evercore ISI increased their target price on shares of Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their target price on Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Citigroup upped their price target on Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Synovus Financial Stock Performance

SNV opened at $55.18 on Wednesday. The business has a fifty day simple moving average of $54.06 and a 200-day simple moving average of $48.67. The firm has a market cap of $7.82 billion, a PE ratio of 18.09, a P/E/G ratio of 1.15 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial has a fifty-two week low of $33.44 and a fifty-two week high of $59.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its stake in shares of Synovus Financial by 7.6% in the third quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank’s stock valued at $6,525,000 after buying an additional 10,346 shares during the period. Nordea Investment Management AB raised its holdings in Synovus Financial by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 276,863 shares of the bank’s stock valued at $14,261,000 after acquiring an additional 10,109 shares in the last quarter. Quest Partners LLC acquired a new stake in Synovus Financial during the third quarter worth $1,264,000. Quantinno Capital Management LP boosted its position in shares of Synovus Financial by 25.1% during the 3rd quarter. Quantinno Capital Management LP now owns 49,099 shares of the bank’s stock valued at $2,183,000 after acquiring an additional 9,852 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Synovus Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank’s stock valued at $222,022,000 after purchasing an additional 147,599 shares in the last quarter. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial’s dividend payout ratio (DPR) is presently 49.84%.

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.