Synovus Financial Corp. (NYSE:SNV) issued its quarterly earnings results on Tuesday. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01, RTT News reports. Synovus Financial Corp. had a net margin of 20.04% and a return on equity of 9.50%. The business had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis.

Synovus Financial Corp. (NYSE:SNV) opened at 44.88 on Tuesday. Synovus Financial Corp. has a one year low of $29.37 and a one year high of $45.38. The company has a market cap of $5.49 billion, a PE ratio of 21.77 and a beta of 1.13. The stock has a 50 day moving average of $42.32 and a 200 day moving average of $41.78.

The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, June 13th. Synovus Financial Corp.’s dividend payout ratio is 28.99%.

In other Synovus Financial Corp. news, EVP Jeffrey Barton Singleton sold 10,500 shares of the company’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $41.96, for a total value of $440,580.00. Following the transaction, the executive vice president now owns 58,781 shares of the company’s stock, valued at approximately $2,466,450.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP D Wayne Akins, Jr. sold 3,500 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $42.96, for a total value of $150,360.00. Following the completion of the transaction, the executive vice president now directly owns 34,994 shares in the company, valued at approximately $1,503,342.24. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SNV. TNB Financial increased its position in shares of Synovus Financial Corp. by 246.2% in the second quarter. TNB Financial now owns 22,715 shares of the bank’s stock valued at $1,005,000 after buying an additional 16,154 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Synovus Financial Corp. by 4.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 44,953 shares of the bank’s stock valued at $1,989,000 after buying an additional 1,863 shares during the period. Capstone Asset Management Co. increased its position in shares of Synovus Financial Corp. by 1.1% in the second quarter. Capstone Asset Management Co. now owns 9,040 shares of the bank’s stock valued at $400,000 after buying an additional 100 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Synovus Financial Corp. by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 688,455 shares of the bank’s stock valued at $28,241,000 after buying an additional 13,268 shares during the period. Finally, FNY Partners Fund LP acquired a new position in shares of Synovus Financial Corp. during the first quarter valued at approximately $410,000. 77.53% of the stock is currently owned by institutional investors.

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SNV has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $39.00 price target on shares of Synovus Financial Corp. in a research report on Monday, April 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $47.00 price target on shares of Synovus Financial Corp. in a research report on Wednesday, April 5th. Zacks Investment Research cut shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Barclays PLC reiterated an “equal weight” rating and set a $44.00 price target (up from $42.00) on shares of Synovus Financial Corp. in a research report on Saturday, April 22nd. Finally, Bank of America Corporation upgraded shares of Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.63.

Synovus Financial Corp. Company Profile

Synovus Financial Corp. is a financial services company 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 locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

Earnings History for Synovus Financial Corp. (NYSE:SNV)

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