Zacks: Analysts Anticipate Synovus Financial Corp. (SNV) Will Post Earnings of $0.90 Per Share
Brokerages expect Synovus Financial Corp. (NYSE:SNV) to post earnings of $0.90 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Synovus Financial’s earnings. The lowest EPS estimate is $0.87 and the highest is $0.93. Synovus Financial posted earnings per share of $0.86 during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, April 23rd.
According to Zacks, analysts expect that Synovus Financial will report full year earnings of $3.91 per share for the current fiscal year, with EPS estimates ranging from $3.80 to $4.08. For the next fiscal year, analysts expect that the company will report earnings of $4.26 per share, with EPS estimates ranging from $4.11 to $4.49. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Synovus Financial.
Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Tuesday, January 15th. The bank reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.02). The firm had revenue of $365.90 million for the quarter, compared to the consensus estimate of $370.64 million. Synovus Financial had a net margin of 26.38% and a return on equity of 15.68%. Synovus Financial’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS.
Several institutional investors have recently modified their holdings of the company. JOYN Advisors Inc. lifted its stake in shares of Synovus Financial by 22,242.9% during the 4th quarter. JOYN Advisors Inc. now owns 1,564 shares of the bank’s stock valued at $50,000 after buying an additional 1,557 shares in the last quarter. Doyle Wealth Management purchased a new position in shares of Synovus Financial during the 4th quarter valued at $56,000. Toronto Dominion Bank purchased a new position in shares of Synovus Financial during the 4th quarter valued at $75,000. ETF Managers Group LLC lifted its stake in shares of Synovus Financial by 17.9% during the 4th quarter. ETF Managers Group LLC now owns 2,657 shares of the bank’s stock valued at $85,000 after buying an additional 404 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Synovus Financial during the 1st quarter valued at $110,000. Institutional investors and hedge funds own 68.27% of the company’s stock.
Shares of SNV traded down $0.71 on Wednesday, hitting $35.91. 30,236 shares of the stock traded hands, compared to its average volume of 1,947,824. The company has a market capitalization of $5.77 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.14 and a beta of 1.24. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56. Synovus Financial has a one year low of $29.93 and a one year high of $57.40.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 21st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, March 20th. This is a boost from Synovus Financial’s previous quarterly dividend of $0.25. Synovus Financial’s dividend payout ratio (DPR) is currently 32.97%.
About Synovus Financial
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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