DA Davidson Weighs in on Synovus Financial Corp.’s Q2 2021 Earnings (NYSE:SNV)


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Synovus Financial Corp. (NYSE:SNV) – Equities research analysts at DA Davidson issued their Q2 2021 earnings per share (EPS) estimates for Synovus Financial in a note issued to investors on Wednesday, April 21st. DA Davidson analyst K. Fitzsimmons forecasts that the bank will post earnings per share of $1.07 for the quarter. DA Davidson also issued estimates for Synovus Financial’s FY2022 earnings at $4.15 EPS.

A number of other brokerages also recently issued reports on SNV. Morgan Stanley lifted their price target on shares of Synovus Financial from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 24th. TheStreet upgraded shares of Synovus Financial from a “c+” rating to a “b-” rating in a research report on Monday, January 4th. Piper Sandler boosted their price objective on shares of Synovus Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, January 8th. Jefferies Financial Group upgraded shares of Synovus Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $40.00 in a research report on Thursday, January 7th. Finally, Zacks Investment Research downgraded shares of Synovus Financial from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Monday, April 5th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Synovus Financial presently has a consensus rating of “Buy” and an average price target of $41.23.

Shares of Synovus Financial stock opened at $44.84 on Thursday. Synovus Financial has a 52-week low of $14.65 and a 52-week high of $50.51. The company has a 50 day moving average of $46.55 and a 200 day moving average of $36.60. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $6.67 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.56 and a beta of 1.66.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Monday, April 19th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.28. Synovus Financial had a net margin of 15.84% and a return on equity of 8.20%. The company had revenue of $485.60 million during the quarter, compared to the consensus estimate of $483.00 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis.

Large investors have recently bought and sold shares of the company. Jeppson Wealth Management LLC acquired a new position in shares of Synovus Financial during the 3rd quarter worth $33,000. Carroll Financial Associates Inc. acquired a new position in shares of Synovus Financial during the 1st quarter worth $35,000. NEXT Financial Group Inc boosted its position in shares of Synovus Financial by 392.3% in the 4th quarter. NEXT Financial Group Inc now owns 1,477 shares of the bank’s stock worth $48,000 after buying an additional 1,177 shares in the last quarter. Ellevest Inc. boosted its position in shares of Synovus Financial by 18.3% in the 4th quarter. Ellevest Inc. now owns 1,716 shares of the bank’s stock worth $56,000 after buying an additional 265 shares in the last quarter. Finally, Paces Ferry Wealth Advisors LLC purchased a new stake in shares of Synovus Financial in the 3rd quarter worth about $66,000. 76.11% of the stock is currently owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Thursday, March 18th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.94%. Synovus Financial’s dividend payout ratio (DPR) is presently 33.85%.

Synovus Financial Company Profile

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and retail banking products and services. It operates through three segments: Community Banking, Wholesale Banking, and Financial Management Services. The company's commercial banking services include treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.

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Earnings History and Estimates for Synovus Financial (NYSE:SNV)

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