DA Davidson Research Analysts Cut Earnings Estimates for Synovus Financial Corp. (NYSE:SNV)

Synovus Financial Corp. (NYSE:SNV) – Equities research analysts at DA Davidson reduced their FY2025 earnings per share estimates for shares of Synovus Financial in a report issued on Monday, April 22nd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $4.39 per share for the year, down from their prior estimate of $4.57. DA Davidson currently has a “Buy” rating and a $43.00 target price on the stock. The consensus estimate for Synovus Financial’s current full-year earnings is $3.79 per share.

Synovus Financial (NYSE:SNV) last announced its earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). The company had revenue of $537.73 million during the quarter, compared to analysts’ expectations of $547.62 million. Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. Synovus Financial’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS.

A number of other brokerages have also issued reports on SNV. Jefferies Financial Group decreased their price target on Synovus Financial from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Wells Fargo & Company decreased their price target on Synovus Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. StockNews.com lowered Synovus Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Morgan Stanley reissued an “equal weight” rating and set a $37.00 price target on shares of Synovus Financial in a research note on Monday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $38.00 price target (down from $46.00) on shares of Synovus Financial in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.38.

Synovus Financial Price Performance

Shares of Synovus Financial stock opened at $36.82 on Wednesday. Synovus Financial has a one year low of $24.40 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 4.09 and a beta of 1.40. The stock has a 50 day moving average price of $37.92 and a 200-day moving average price of $34.78.

Synovus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.52 annualized dividend and a yield of 4.13%. Synovus Financial’s dividend payout ratio (DPR) is 52.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock worth $27,000 after buying an additional 557 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Synovus Financial during the 4th quarter worth $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Synovus Financial during the 4th quarter worth $30,000. American National Bank purchased a new position in Synovus Financial during the 4th quarter worth $38,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Synovus Financial during the 4th quarter valued at about $42,000. 83.85% of the stock is currently owned by hedge funds and other institutional investors.

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.