Synovus Financial (NYSE:SNV) Releases Earnings Results, Beats Estimates By $0.23 EPS

Synovus Financial (NYSE:SNV) posted its quarterly earnings data on Wednesday. The bank reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.23, Zacks reports. Synovus Financial had a net margin of 21.52% and a return on equity of 16.44%. The company had revenue of $592.08 million during the quarter, compared to the consensus estimate of $584.89 million. During the same quarter in the prior year, the company posted $1.16 EPS. Synovus Financial updated its FY 2025 guidance to EPS.

Synovus Financial Stock Performance

SNV stock opened at $55.46 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $7.71 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.01 and a beta of 1.19. Synovus Financial has a 12-month low of $35.94 and a 12-month high of $59.92. The stock’s 50 day simple moving average is $50.14 and its 200 day simple moving average is $49.20.

Synovus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, June 19th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Wednesday, June 18th. Synovus Financial’s dividend payout ratio (DPR) is currently 43.70%.

Institutional Investors Weigh In On Synovus Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth increased its position in Synovus Financial by 14.0% in the first quarter. Focus Partners Wealth now owns 17,616 shares of the bank’s stock worth $823,000 after buying an additional 2,169 shares during the period. Royal Bank of Canada increased its position in Synovus Financial by 51.2% in the first quarter. Royal Bank of Canada now owns 26,820 shares of the bank’s stock worth $1,254,000 after buying an additional 9,080 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Synovus Financial by 78.2% in the first quarter. Goldman Sachs Group Inc. now owns 523,479 shares of the bank’s stock worth $24,467,000 after buying an additional 229,730 shares during the period. 83.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Synovus Financial in a research note on Wednesday, May 21st. They set a “hold” rating and a $55.00 price objective for the company. Raymond James Financial raised shares of Synovus Financial from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of Synovus Financial from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. DA Davidson dropped their price objective on shares of Synovus Financial from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods raised shares of Synovus Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $58.00 to $65.00 in a research report on Friday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.50.

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.