Synovus Financial (NYSE:SNV) Announces Quarterly Earnings Results

by · The Cerbat Gem

Synovus Financial (NYSE:SNV – Get Free Report) issued its 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%. The company had revenue of $573.24 million during the quarter, compared to analysts’ expectations of $572.35 million. Synovus Financial updated its FY 2025 guidance to EPS.

Synovus Financial Stock Performance

Shares of SNV opened at $41.24 on Friday. Synovus Financial has a 12 month low of $33.44 and a 12 month high of $59.92. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.16. The stock has a 50 day moving average of $46.96 and a 200 day moving average of $50.68. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were paid a $0.39 dividend. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 20th. This represents a $1.56 annualized dividend and a yield of 3.78%. Synovus Financial’s dividend payout ratio (DPR) is 51.15%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Stephens reaffirmed an “equal weight” rating and issued a $58.00 price objective on shares of Synovus Financial in a research note on Thursday, January 16th. Raymond James cut Synovus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Citigroup upped their target price on Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Synovus Financial from $60.50 to $62.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Morgan Stanley cut their target price on shares of Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.17.

Read Our Latest Report on SNV

About Synovus Financial

(Get Free Report)

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.

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