Synovus Financial (SNV) Set to Announce Quarterly Earnings on Wednesday

Synovus Financial (NYSE:SNV) will release 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 are interested in participating in the company’s conference call can do so using this link.

Synovus Financial (NYSE:SNV) last released 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 company 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%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. 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 Price Performance

Shares of NYSE SNV opened at $43.05 on Wednesday. Synovus Financial has a twelve month low of $24.40 and a twelve month high of $47.83. The business’s 50 day moving average price is $43.71 and its two-hundred day moving average price is $40.88. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.50. The company has a market cap of $6.20 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 3.44 and a beta of 1.38.

Synovus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 19th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.52 dividend on an annualized basis and a yield of 3.53%. Synovus Financial’s payout ratio is currently 52.05%.

Insider Transactions at Synovus Financial

In other news, EVP Thomas T. Dierdorff sold 614 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.20, for a total value of $28,366.80. Following the transaction, the executive vice president now directly owns 14,833 shares of the company’s stock, valued at approximately $685,284.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

SNV has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on shares of Synovus Financial from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Evercore ISI reduced their price objective on Synovus Financial from $50.00 to $48.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley lifted their target price on Synovus Financial from $41.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods upped their target price on Synovus Financial from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their target price on Synovus Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.44.

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.