Synovus Financial (NYSE:SNV) Releases Earnings Results, Beats Estimates By $0.19 EPS

Synovus Financial (NYSE:SNV) posted its quarterly earnings results on Wednesday. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.11 by $0.19, Zacks reports. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. Synovus Financial updated its FY 2025 guidance to EPS.

Synovus Financial Trading Down 1.2 %

Shares of Synovus Financial stock traded down $0.51 on Wednesday, reaching $40.45. 2,080,498 shares of the company were exchanged, compared to its average volume of 1,630,197. Synovus Financial has a fifty-two week low of $33.44 and a fifty-two week high of $59.92. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $47.55 and a 200-day moving average price of $50.78.

Synovus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend yield of 3.86%. The ex-dividend date was Thursday, March 20th. This is an increase from Synovus Financial’s previous quarterly dividend of $0.38. Synovus Financial’s dividend payout ratio is 51.15%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group assumed coverage on Synovus Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. JPMorgan Chase & Co. increased their target price on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Barclays lowered their price target on shares of Synovus Financial from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of Synovus Financial from $60.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley dropped their price target on shares of Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.17.

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.