Brokerages expect that Synovus Financial Corp. (NYSE:SNV) will announce earnings of $0.97 per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Synovus Financial’s earnings. The highest EPS estimate is $1.02 and the lowest is $0.93. Synovus Financial posted earnings of $0.92 per share during the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The company is scheduled to issue its next quarterly earnings report on Tuesday, January 21st.
On average, analysts expect that Synovus Financial will report full year earnings of $3.91 per share for the current year, with EPS estimates ranging from $3.86 to $3.97. For the next year, analysts expect that the business will post earnings of $3.67 per share, with EPS estimates ranging from $3.53 to $3.82. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Synovus Financial.
Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The firm had revenue of $490.86 million during the quarter, compared to analyst estimates of $486.74 million. Synovus Financial had a net margin of 23.22% and a return on equity of 14.43%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share.
Synovus Financial stock traded down $0.04 during midday trading on Monday, hitting $38.05. 1,042,382 shares of the company were exchanged, compared to its average volume of 1,719,664. The firm has a market capitalization of $5.58 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.35. Synovus Financial has a fifty-two week low of $29.93 and a fifty-two week high of $40.41. The business has a fifty day simple moving average of $36.37 and a two-hundred day simple moving average of $35.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 0.94.
In other Synovus Financial news, VP Mark G. Holladay sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $35.72, for a total transaction of $178,600.00. Following the transaction, the vice president now owns 60,289 shares in the company, valued at $2,153,523.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. lifted its holdings in Synovus Financial by 5.7% during the second quarter. Crossmark Global Holdings Inc. now owns 12,549 shares of the bank’s stock valued at $439,000 after purchasing an additional 678 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Synovus Financial by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 67,099 shares of the bank’s stock valued at $2,348,000 after purchasing an additional 910 shares during the last quarter. Cerebellum GP LLC lifted its holdings in Synovus Financial by 43.8% during the second quarter. Cerebellum GP LLC now owns 10,143 shares of the bank’s stock valued at $355,000 after purchasing an additional 3,088 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Synovus Financial by 34.3% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 383,624 shares of the bank’s stock valued at $13,427,000 after purchasing an additional 97,974 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in Synovus Financial by 4.3% during the second quarter. Whittier Trust Co. now owns 67,684 shares of the bank’s stock valued at $2,369,000 after purchasing an additional 2,813 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.
Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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