FY2025 Earnings Estimate for Synovus Financial Corp. Issued By DA Davidson (NYSE:SNV)

Synovus Financial Corp. (NYSE:SNV) – Research analysts at DA Davidson cut their FY2025 earnings per share estimates for Synovus Financial in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst G. Tenner now expects that the bank will earn $4.39 per share for the year, down from their prior forecast 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 issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a net margin of 13.29% and a return on equity of 12.93%. The company had revenue of $537.73 million for the quarter, compared to the consensus estimate of $547.62 million. During the same quarter last year, the business posted $1.33 earnings per share. Synovus Financial’s revenue was down 12.4% on a year-over-year basis.

A number of other equities research analysts have also recently commented on SNV. UBS Group lifted their target price on Synovus Financial from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 target price (down from $46.00) on shares of Synovus Financial in a research note on Friday, April 19th. StockNews.com cut Synovus Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Morgan Stanley reiterated an “equal weight” rating and set a $37.00 target price on shares of Synovus Financial in a research note on Monday. Finally, The Goldman Sachs Group lowered their target price on Synovus Financial from $46.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.38.

Synovus Financial Price Performance

Shares of NYSE:SNV opened at $36.82 on Wednesday. The stock has a market cap of $5.39 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 4.09 and a beta of 1.40. Synovus Financial has a 1-year low of $24.40 and a 1-year high of $40.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $37.92 and its two-hundred day simple moving average is $34.78.

Synovus Financial Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SNV. Allworth Financial LP grew its holdings in Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock valued at $27,000 after buying an additional 557 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Synovus Financial during the fourth quarter worth about $28,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Synovus Financial during the fourth quarter worth about $30,000. First Command Advisory Services Inc. purchased a new position in shares of Synovus Financial during the third quarter worth about $33,000. Finally, American National Bank purchased a new position in shares of Synovus Financial during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Company Profile

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.