Wall Street analysts predict that Synovus Financial Corp. (NYSE:SNV) will post sales of $338.89 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Synovus Financial’s earnings, with the lowest sales estimate coming in at $336.00 million and the highest estimate coming in at $342.28 million. Synovus Financial reported sales of $307.54 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The firm is scheduled to report its next earnings results on Tuesday, January 16th.

According to Zacks, analysts expect that Synovus Financial will report full-year sales of $338.89 million for the current financial year, with estimates ranging from $1.29 billion to $1.37 billion. For the next year, analysts expect that the firm will post sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Synovus Financial.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Tuesday, October 17th. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. The business had revenue of $398.01 million for the quarter, compared to analyst estimates of $331.27 million. During the same quarter last year, the firm earned $0.65 EPS.

A number of brokerages have weighed in on SNV. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $48.00 price target on shares of Synovus Financial in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, September 12th. SunTrust Banks reaffirmed a “buy” rating and issued a $51.00 price target on shares of Synovus Financial in a research note on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $50.00 price target on shares of Synovus Financial in a research note on Thursday, October 12th. Finally, ValuEngine lowered shares of Synovus Financial from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.64.

Shares of Synovus Financial (SNV) traded up $0.52 on Tuesday, reaching $50.13. 583,100 shares of the company’s stock were exchanged, compared to its average volume of 743,464. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 0.99. Synovus Financial has a 1 year low of $37.95 and a 1 year high of $51.09. The company has a market capitalization of $5,929.13, a price-to-earnings ratio of 21.02, a P/E/G ratio of 2.53 and a beta of 1.13.

In related news, COO Allen J. Gula sold 2,125 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares in the company, valued at $3,418,348.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $46.29, for a total transaction of $462,900.00. Following the transaction, the executive vice president now owns 43,488 shares in the company, valued at $2,013,059.52. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SNV. Balentine LLC increased its holdings in Synovus Financial by 0.4% during the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after buying an additional 12 shares during the last quarter. TLP Group LLC acquired a new position in Synovus Financial during the second quarter worth $145,000. Advisory Services Network LLC increased its holdings in Synovus Financial by 17.8% during the second quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock worth $152,000 after buying an additional 519 shares during the last quarter. Patten Group Inc. increased its holdings in Synovus Financial by 61.1% during the third quarter. Patten Group Inc. now owns 5,729 shares of the bank’s stock worth $164,000 after buying an additional 2,172 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Synovus Financial by 16.5% during the second quarter. PNC Financial Services Group Inc. now owns 4,120 shares of the bank’s stock worth $182,000 after buying an additional 583 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

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About Synovus Financial

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.

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Earnings History and Estimates for Synovus Financial (NYSE:SNV)

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