Brokerages expect Synovus Financial Corp. (NYSE:SNV) to post $0.68 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Synovus Financial’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.65. Synovus Financial reported earnings per share of $0.54 during the same quarter last year, which would suggest a positive year over year growth rate of 25.9%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, January 23rd.

On average, analysts expect that Synovus Financial will report full-year earnings of $2.45 per share for the current year, with EPS estimates ranging from $2.33 to $2.59. For the next fiscal year, analysts forecast that the firm will post earnings of $2.95 per share, with EPS estimates ranging from $2.75 to $3.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Synovus Financial.

Synovus Financial (NYSE:SNV) last issued its earnings results on Tuesday, October 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. During the same period in the previous year, the company earned $0.65 earnings per share.

A number of brokerages have commented on SNV. Zacks Investment Research cut shares of Synovus Financial from a “buy” rating to a “hold” rating and set a $54.00 target price for the company. in a report on Friday. Robert W. Baird reaffirmed an “average” rating and set a $47.00 target price on shares of Synovus Financial in a report on Wednesday. Barclays upped their target price on shares of Synovus Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $53.00 target price on shares of Synovus Financial in a report on Friday, December 22nd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $50.00 target price on shares of Synovus Financial in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.00.

In other news, COO Allen J. Gula sold 2,125 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.11, for a total value of $100,108.75. Following the sale, the chief operating officer now owns 72,561 shares of the company’s stock, valued at $3,418,348.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total transaction of $462,900.00. Following the completion of the sale, the executive vice president now directly owns 43,488 shares in the company, valued at approximately $2,013,059.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,177 shares of company stock valued at $614,367. 1.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SNV. AJO LP raised its stake in shares of Synovus Financial by 291.0% in the second quarter. AJO LP now owns 1,089,237 shares of the bank’s stock valued at $48,188,000 after acquiring an additional 810,692 shares during the period. Eagle Asset Management Inc. increased its stake in Synovus Financial by 25.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,362,104 shares of the bank’s stock worth $156,270,000 after buying an additional 671,971 shares during the period. Bank of Nova Scotia purchased a new position in Synovus Financial in the 2nd quarter worth about $17,745,000. Thrivent Financial For Lutherans increased its stake in Synovus Financial by 46.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,214,532 shares of the bank’s stock worth $53,731,000 after buying an additional 382,852 shares during the period. Finally, BlackRock Inc. increased its stake in Synovus Financial by 3.6% in the 2nd quarter. BlackRock Inc. now owns 10,607,093 shares of the bank’s stock worth $469,257,000 after buying an additional 370,743 shares during the period. 77.81% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial (NYSE:SNV) opened at $49.37 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. Synovus Financial has a twelve month low of $37.95 and a twelve month high of $51.09. The firm has a market cap of $5,831.13, a P/E ratio of 19.91, a PEG ratio of 2.07 and a beta of 1.13.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, December 21st were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Synovus Financial’s dividend payout ratio is 24.19%.

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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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