Synovus Financial (SNV) Projected to Post Earnings on Wednesday

Synovus Financial (NYSE:SNV) is expected to announce its earnings results after the market closes on Wednesday, April 16th. Analysts expect the company to announce earnings of $1.11 per share and revenue of $572.35 million for the quarter. Synovus Financial has set its FY 2025 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Synovus Financial (NYSE:SNV) last issued its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The firm had revenue of $580.58 million during the quarter, compared to analysts’ expectations of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, analysts expect Synovus Financial to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Synovus Financial Price Performance

NYSE SNV opened at $39.57 on Monday. Synovus Financial has a 1 year low of $33.44 and a 1 year high of $59.92. The business’s fifty day moving average is $48.20 and its two-hundred day moving average is $50.87. The stock has a market capitalization of $5.58 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.11 and a beta of 1.16. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from Synovus Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 20th. Synovus Financial’s payout ratio is presently 51.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Synovus Financial from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Barclays dropped their target price on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group started coverage on shares of Synovus Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and issued a $58.00 price objective on shares of Synovus Financial in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Synovus Financial has an average rating of “Moderate Buy” and a consensus price target of $58.17.

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.