Synovus Financial Corp. (NYSE:SNV) – Research analysts at FIG Partners lifted their FY2017 earnings estimates for Synovus Financial Corp. in a note issued to investors on Wednesday. FIG Partners analyst C. Marinac now expects that the bank will post earnings per share of $2.40 for the year, up from their previous estimate of $2.36. FIG Partners also issued estimates for Synovus Financial Corp.’s Q1 2018 earnings at $0.65 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.72 EPS and FY2018 earnings at $2.77 EPS.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings data on Tuesday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The company had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis.

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Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Thursday, April 20th. ValuEngine upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Bank of America Corporation upgraded Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, May 11th. Stephens reiterated a “buy” rating and set a $46.00 target price on shares of Synovus Financial Corp. in a research note on Wednesday. Finally, Barclays PLC reiterated an “equal weight” rating and set a $44.00 target price (up from $42.00) on shares of Synovus Financial Corp. in a research note on Saturday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $42.78.

Shares of Synovus Financial Corp. (NYSE SNV) opened at 44.01 on Thursday. Synovus Financial Corp. has a 12-month low of $29.74 and a 12-month high of $45.38. The firm has a market cap of $5.38 billion, a PE ratio of 21.34 and a beta of 1.13. The firm’s 50-day moving average is $43.46 and its 200-day moving average is $42.12.

A number of large investors have recently modified their holdings of the company. State Treasurer State of Michigan raised its stake in shares of Synovus Financial Corp. by 1.4% in the second quarter. State Treasurer State of Michigan now owns 50,405 shares of the bank’s stock valued at $2,230,000 after buying an additional 700 shares in the last quarter. First Quadrant L P CA raised its stake in shares of Synovus Financial Corp. by 119.9% in the second quarter. First Quadrant L P CA now owns 231,574 shares of the bank’s stock valued at $10,245,000 after buying an additional 126,274 shares in the last quarter. Aperio Group LLC raised its stake in shares of Synovus Financial Corp. by 9.8% in the second quarter. Aperio Group LLC now owns 42,478 shares of the bank’s stock valued at $1,879,000 after buying an additional 3,782 shares in the last quarter. Alpha Windward LLC raised its stake in shares of Synovus Financial Corp. by 1,623.9% in the second quarter. Alpha Windward LLC now owns 11,395 shares of the bank’s stock valued at $504,000 after buying an additional 10,734 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Synovus Financial Corp. by 3.2% in the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the bank’s stock valued at $1,411,000 after buying an additional 1,000 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

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

The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, June 13th. Synovus Financial Corp.’s dividend payout ratio is currently 27.15%.

About Synovus Financial Corp.

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 and Estimates for Synovus Financial Corp. (NYSE:SNV)

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