Synovus Financial Corp. to Issue Quarterly Dividend of $0.39 (NYSE:SNV)

Synovus Financial Corp. (NYSE:SNV) announced a quarterly dividend on Thursday, December 4th. Stockholders of record on Thursday, December 18th will be paid a dividend of 0.39 per share by the bank on Wednesday, December 24th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, December 18th.

Synovus Financial has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Synovus Financial has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Synovus Financial to earn $5.45 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 28.6%.

Synovus Financial Stock Performance

NYSE SNV opened at $50.17 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. Synovus Financial has a 52-week low of $35.94 and a 52-week high of $61.06. The business’s 50-day moving average price is $46.70 and its 200 day moving average price is $49.17. The firm has a market cap of $6.96 billion, a P/E ratio of 9.36, a P/E/G ratio of 0.86 and a beta of 1.21.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings data on Wednesday, October 15th. The bank reported $1.46 EPS for the quarter, beating the consensus estimate of $1.36 by $0.10. Synovus Financial had a return on equity of 16.13% and a net margin of 21.97%.The firm had revenue of $612.79 million during the quarter, compared to the consensus estimate of $604.59 million. During the same period in the prior year, the business earned $1.23 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Synovus Financial will post 4.89 earnings per share for the current year.

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.