Synovus Financial Corp. (NYSE:SNV) announced a quarterly dividend on Friday, September 8th, RTT News reports. Shareholders of record on Thursday, September 21st will be paid a dividend of 0.15 per share by the bank on Monday, October 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.48%.

Synovus Financial Corp. has raised its dividend payment by an average of 19.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Synovus Financial Corp. has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Synovus Financial Corp. to earn $2.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 21.7%.

Shares of Synovus Financial Corp. (NYSE:SNV) traded up 1.46% during midday trading on Friday, reaching $41.11. The company’s stock had a trading volume of 427,484 shares. Synovus Financial Corp. has a 12 month low of $31.41 and a 12 month high of $45.38. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 18.67 and a beta of 1.12. The stock has a 50-day moving average of $42.68 and a 200 day moving average of $42.35.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings data on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Synovus Financial Corp. had a return on equity of 9.88% and a net margin of 20.68%. The business had revenue of $319.80 million during the quarter, compared to the consensus estimate of $317.81 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Synovus Financial Corp. will post $2.46 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on SNV shares. ValuEngine upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, July 19th. Stephens restated a “buy” rating and issued a $46.00 price target on shares of Synovus Financial Corp. in a report on Wednesday, July 19th. Robert W. Baird restated a “hold” rating and issued a $40.00 price target on shares of Synovus Financial Corp. in a report on Friday, August 25th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $47.00 price target on shares of Synovus Financial Corp. in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.50.

WARNING: This report was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/09/08/synovus-financial-corp-snv-plans-quarterly-dividend-of-0-15.html.

In other news, EVP Kevin Joseph Howard sold 7,000 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $43.37, for a total transaction of $303,590.00. Following the completion of the transaction, the executive vice president now directly owns 46,490 shares of the company’s stock, valued at $2,016,271.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Curtis J. Perry sold 7,062 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $43.86, for a total value of $309,739.32. Following the transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at $2,633,266.68. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

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.

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

Receive News & Ratings for Synovus Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.