Equities research analysts predict that Synovus Financial Corp. (NYSE:SNV – Get Rating) will post $519.42 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Synovus Financial’s earnings, with the lowest sales estimate coming in at $511.92 million and the highest estimate coming in at $534.50 million. Synovus Financial posted sales of $488.95 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Synovus Financial will report full year sales of $2.10 billion for the current year, with estimates ranging from $2.08 billion to $2.14 billion. For the next financial year, analysts anticipate that the company will report sales of $2.32 billion, with estimates ranging from $2.26 billion to $2.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Synovus Financial.
Synovus Financial (NYSE:SNV – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The firm had revenue of $498.50 million for the quarter, compared to the consensus estimate of $497.35 million. Synovus Financial had a return on equity of 16.00% and a net margin of 35.38%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS.
NYSE SNV opened at $42.36 on Friday. The stock’s 50-day moving average price is $43.61 and its two-hundred day moving average price is $47.45. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.16 billion, a PE ratio of 8.79, a PEG ratio of 2.63 and a beta of 1.42. Synovus Financial has a 1 year low of $37.98 and a 1 year high of $54.40.
In related news, Director Joseph J. Prochaska, Jr. bought 1,000 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $41.38 per share, with a total value of $41,380.00. Following the completion of the transaction, the director now directly owns 31,109 shares of the company’s stock, valued at $1,287,290.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andrew J. Jr. Gregory bought 2,000 shares of the firm’s stock in a transaction on Wednesday, April 27th. The shares were bought at an average cost of $42.73 per share, with a total value of $85,460.00. Following the transaction, the chief financial officer now directly owns 29,196 shares of the company’s stock, valued at $1,247,545.08. The disclosure for this purchase can be found here. Corporate insiders own 1.55% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Synovus Financial by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 3,059 shares of the bank’s stock valued at $146,000 after acquiring an additional 216 shares during the period. Arizona State Retirement System boosted its position in shares of Synovus Financial by 0.6% in the third quarter. Arizona State Retirement System now owns 40,477 shares of the bank’s stock valued at $1,777,000 after acquiring an additional 236 shares during the period. Ellevest Inc. raised its stake in shares of Synovus Financial by 15.6% in the fourth quarter. Ellevest Inc. now owns 1,856 shares of the bank’s stock valued at $89,000 after purchasing an additional 250 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Synovus Financial by 7.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,681 shares of the bank’s stock valued at $180,000 after purchasing an additional 263 shares in the last quarter. Finally, CFO4Life Group LLC raised its stake in shares of Synovus Financial by 1.8% in the first quarter. CFO4Life Group LLC now owns 15,081 shares of the bank’s stock valued at $739,000 after purchasing an additional 272 shares in the last quarter. 79.53% of the stock is owned by institutional investors.
Synovus Financial Company Profile (Get Rating)
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and retail banking products and services. It operates through three segments: Community Banking, Wholesale Banking, and Financial Management Services. The company's commercial banking services include treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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