FY2025 EPS Estimates for Synovus Financial Corp. Cut by DA Davidson (NYSE:SNV)

Synovus Financial Corp. (NYSE:SNV) – Equities researchers at DA Davidson decreased their FY2025 earnings estimates for Synovus Financial in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst G. Tenner now forecasts that the bank will earn $4.39 per share for the year, down from their previous 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 posted 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 return on equity of 12.93% and a net margin of 13.29%. The firm had revenue of $537.73 million for the quarter, compared to analyst estimates of $547.62 million. During the same quarter last year, the company earned $1.33 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year.

SNV has been the topic of several other reports. Wells Fargo & Company cut their target price on shares of Synovus Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Barclays cut their target price on shares of Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. UBS Group increased their target price on shares of Synovus Financial from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Raymond James lowered shares of Synovus Financial from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group dropped their price objective on shares of 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.18.

Synovus Financial Trading Up 2.7 %

SNV opened at $36.63 on Wednesday. The stock has a market cap of $5.36 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 4.09 and a beta of 1.40. Synovus Financial has a twelve month low of $24.40 and a twelve month high of $40.92. The company has a fifty day moving average of $37.91 and a 200-day moving average of $34.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45.

Synovus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 21st were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.52 annualized dividend and a dividend yield of 4.15%. Synovus Financial’s dividend payout ratio is currently 52.05%.

Institutional Trading of Synovus Financial

Several institutional investors and hedge funds have recently made changes to their positions in SNV. AE Wealth Management LLC increased its holdings in Synovus Financial by 36.2% during the third quarter. AE Wealth Management LLC now owns 18,728 shares of the bank’s stock worth $521,000 after buying an additional 4,980 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in Synovus Financial during the third quarter worth about $132,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Synovus Financial during the third quarter worth about $214,000. Raymond James Financial Services Advisors Inc. increased its holdings in Synovus Financial by 11.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,867 shares of the bank’s stock worth $636,000 after buying an additional 2,305 shares during the last quarter. Finally, Sippican Capital Advisors increased its holdings in Synovus Financial by 7.2% during the third quarter. Sippican Capital Advisors now owns 7,400 shares of the bank’s stock worth $206,000 after buying an additional 500 shares during the last quarter. 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.