Synovus Financial (SNV) Expected to Announce Earnings on Wednesday

Synovus Financial (NYSE:SNV) will likely be issuing its quarterly earnings data after the market closes on Wednesday, April 16th. Analysts expect the company to announce earnings of $1.11 per share and revenue of $572.35 million for the quarter. Synovus Financial has set its FY 2025 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Synovus Financial (NYSE:SNV) last issued its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. On average, analysts expect Synovus Financial to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Synovus Financial Price Performance

Shares of NYSE:SNV opened at $38.13 on Wednesday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day simple moving average is $49.39 and its 200-day simple moving average is $50.94. Synovus Financial has a 12 month low of $33.44 and a 12 month high of $59.92.

Synovus Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.09%. This is an increase from Synovus Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 20th. Synovus Financial’s payout ratio is presently 51.15%.

Analysts Set New Price Targets

SNV has been the topic of several recent research reports. Barclays decreased their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup upped their price target on shares of Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group assumed coverage on shares of Synovus Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Synovus Financial in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price target on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.44.

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.