FY2025 EPS Forecast for Synovus Financial Cut by Analyst

Synovus Financial Corp. (NYSE:SNV - Free Report) - Investment analysts at DA Davidson lowered their FY2025 earnings estimates for Synovus Financial in a research note issued on Wednesday, April 2nd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $4.76 for the year, down from their prior estimate of $4.80. The consensus estimate for Synovus Financial's current full-year earnings is $4.89 per share. DA Davidson also issued estimates for Synovus Financial's FY2025 earnings at $4.76 EPS.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The firm had revenue of $580.58 million for the quarter, compared to analysts' expectations of $566.83 million. During the same period in the prior year, the company earned $0.80 EPS. The firm's revenue was up 18.8% on a year-over-year basis.

A number of other equities analysts also recently weighed in on SNV. Stephens reaffirmed an "equal weight" rating and set a $58.00 price target on shares of Synovus Financial in a research note on Thursday, January 16th. Citigroup raised their price objective on Synovus Financial from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 target price on shares of Synovus Financial in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Synovus Financial from $60.50 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, UBS Group assumed coverage on shares of Synovus Financial in a research note on Tuesday, December 17th. They issued a "buy" rating and a $76.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.44.

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Synovus Financial Price Performance

Shares of SNV traded up $2.24 during mid-day trading on Friday, reaching $40.51. 1,062,045 shares of the company's stock were exchanged, compared to its average volume of 1,415,964. Synovus Financial has a 52-week low of $33.44 and a 52-week high of $59.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $49.39 and a two-hundred day simple moving average of $50.94. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.11 and a beta of 1.16.

Synovus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is presently 51.15%.

Institutional Trading of Synovus Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in SNV. Proficio Capital Partners LLC acquired a new position in Synovus Financial during the 4th quarter worth $3,798,000. Nordea Investment Management AB lifted its position in shares of Synovus Financial by 3.8% during the fourth 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. Quantinno Capital Management LP grew its stake in Synovus Financial by 25.1% in the third quarter. Quantinno Capital Management LP now owns 49,099 shares of the bank's stock worth $2,183,000 after purchasing an additional 9,852 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Synovus Financial in the fourth quarter worth about $1,504,000. Finally, SG Americas Securities LLC increased its holdings in Synovus Financial by 11.0% in the fourth quarter. SG Americas Securities LLC now owns 12,547 shares of the bank's stock valued at $643,000 after buying an additional 1,240 shares during the last quarter. Institutional investors own 83.85% of the company's stock.

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.