Synovus Financial (NYSE:SNV – Get Free Report) announced its quarterly earnings data on Wednesday. The bank reported $1.16 EPS for the quarter, beating the consensus estimate of $0.96 by $0.20, Briefing.com reports. The firm had revenue of $563.60 million for the quarter, compared to analyst estimates of $543.52 million. Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS.
Synovus Financial Stock Performance
Shares of NYSE SNV opened at $45.46 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $39.26 and its 200-day moving average price is $38.11. Synovus Financial has a 52-week low of $24.40 and a 52-week high of $46.27. The company has a market cap of $6.66 billion, a PE ratio of 15.57, a PEG ratio of 3.72 and a beta of 1.40.
Synovus Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Thursday, June 20th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, June 20th. Synovus Financial’s dividend payout ratio is currently 52.05%.
Insider Activity
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Synovus Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Evercore ISI raised their target price on Synovus Financial from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. The Goldman Sachs Group lowered their price target on Synovus Financial from $46.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. DA Davidson lifted their price objective on Synovus Financial from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Synovus Financial from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.63.
View Our Latest Stock Report on SNV
About Synovus Financial
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.
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