Research Analysts Issue Forecasts for SNV FY2025 Earnings

Synovus Financial Corp. (NYSE:SNV) – DA Davidson raised their FY2025 earnings per share estimates for Synovus Financial in a report issued on Monday, January 20th. DA Davidson analyst G. Tenner now anticipates that the bank will earn $5.45 per share for the year, up from their previous forecast of $4.76. DA Davidson currently has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for Synovus Financial’s current full-year earnings is $4.78 per share.

Synovus Financial (NYSE:SNV) last posted its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The business had revenue of $580.58 million during the quarter, compared to analyst estimates of $566.83 million. During the same quarter in the previous year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 18.8% compared to the same quarter last year.

Other research analysts have also issued reports about the stock. Evercore ISI boosted their price target on shares of Synovus Financial from $48.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of Synovus Financial in a research note on Thursday, December 12th. Truist Financial raised their price target on Synovus Financial from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft started coverage on Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 price objective for the company. Finally, Stephens reaffirmed an “equal weight” rating and issued a $58.00 target price on shares of Synovus Financial in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.44.

Synovus Financial Price Performance

Shares of NYSE:SNV opened at $55.37 on Wednesday. The company has a 50 day moving average of $54.09 and a 200 day moving average of $48.62. 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 market cap of $7.84 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.15 and a beta of 1.39. Synovus Financial has a 12 month low of $33.44 and a 12 month high of $59.92.

Hedge Funds Weigh In On Synovus Financial

Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in Synovus Financial by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 51,357 shares of the bank’s stock valued at $2,631,000 after purchasing an additional 2,166 shares during the period. SG Americas Securities LLC raised its holdings in shares of Synovus Financial by 11.0% during the fourth quarter. SG Americas Securities LLC now owns 12,547 shares of the bank’s stock valued at $643,000 after acquiring an additional 1,240 shares in the last quarter. TruWealth Advisors LLC purchased a new stake in Synovus Financial in the fourth quarter worth $12,350,000. Merit Financial Group LLC bought a new stake in Synovus Financial in the fourth quarter valued at $224,000. Finally, Park Avenue Securities LLC purchased a new position in Synovus Financial during the 4th quarter valued at $254,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.52 annualized dividend and a yield of 2.75%. Synovus Financial’s payout ratio is currently 49.84%.

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.