Synovus Financial Corp. (NYSE:SNV) will be posting its Q316 quarterly earnings results on Tuesday, October 18th.
Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Synovus Financial Corp. had a net margin of 18.39% and a return on equity of 8.42%. The business earned $289.30 million during the quarter, compared to analyst estimates of $288.06 million. During the same quarter last year, the firm posted $0.40 earnings per share. On average, analysts expect Synovus Financial Corp. to post $1.86 EPS for the current fiscal year and $2.06 EPS for the next fiscal year.
Synovus Financial Corp. (NYSE:SNV) opened at 31.75 on Friday. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 18.79 and a beta of 1.72. Synovus Financial Corp. has a 1-year low of $25.48 and a 1-year high of $33.80. The stock has a 50 day moving average of $32.64 and a 200 day moving average of $30.95.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.12 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.48 annualized dividend and a dividend yield of 1.51%. Synovus Financial Corp.’s dividend payout ratio is presently 28.24%.
SNV has been the topic of several recent research reports. Wells Fargo & Co. lowered shares of Synovus Financial Corp. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, September 20th. Hovde Group boosted their price objective on shares of Synovus Financial Corp. from $34.00 to $35.50 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Credit Agricole SA raised shares of Synovus Financial Corp. from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $30.00 to $33.00 in a research note on Friday, September 23rd. Finally, Barclays PLC boosted their target price on shares of Synovus Financial Corp. from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Synovus Financial Corp. currently has an average rating of “Hold” and a consensus price target of $31.44.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its position in Synovus Financial Corp. by 3.7% in the second quarter. Ameritas Investment Partners Inc. now owns 19,844 shares of the company’s stock worth $575,000 after buying an additional 714 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Synovus Financial Corp. by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 362,456 shares of the company’s stock worth $10,508,000 after buying an additional 1,130 shares during the period. Comerica Bank increased its stake in Synovus Financial Corp. by 1.9% in the second quarter. Comerica Bank now owns 86,733 shares of the company’s stock worth $2,763,000 after buying an additional 1,651 shares during the period. Trexquant Investment LP increased its stake in Synovus Financial Corp. by 8.1% in the second quarter. Trexquant Investment LP now owns 26,100 shares of the company’s stock worth $757,000 after buying an additional 1,951 shares during the period. Finally, Profund Advisors LLC increased its stake in Synovus Financial Corp. by 13.7% in the second quarter. Profund Advisors LLC now owns 20,288 shares of the company’s stock worth $588,000 after buying an additional 2,444 shares during the period. 76.83% of the stock is owned by institutional investors.
About Synovus Financial Corp.
Synovus Financial Corp. is a financial services and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its customers through over 30 locally branded banking divisions of its subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.
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