FY2025 EPS Forecast for Synovus Financial Raised by Analyst

Synovus Financial Corp. (NYSE:SNV) – Analysts at DA Davidson raised their FY2025 earnings per share (EPS) estimates for shares of Synovus Financial in a research report issued on Monday, January 20th. DA Davidson analyst G. Tenner now forecasts that the bank will earn $5.45 per share for the year, up from their prior estimate of $4.76. DA Davidson has a “Buy” rating and a $60.00 price objective 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $580.58 million for 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 firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Bank of America boosted their price target on Synovus Financial from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Truist Financial increased their target price on shares of Synovus Financial from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group assumed coverage on shares of Synovus Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. Finally, Piper Sandler increased their price objective on shares of Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Synovus Financial Stock Performance

Shares of SNV opened at $55.18 on Wednesday. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.15 and a beta of 1.39. The company’s 50 day simple moving average is $54.06 and its 200 day simple moving average is $48.67. Synovus Financial has a 1 year low of $33.44 and a 1 year high of $59.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88.

Synovus Financial Dividend Announcement

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

Institutional Inflows and Outflows

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

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.