FY2025 EPS Estimates for Synovus Financial Corp. (NYSE:SNV) Decreased by Analyst

Synovus Financial Corp. (NYSE:SNV) – DA Davidson dropped their FY2025 earnings per share estimates for shares of Synovus Financial in a note issued to 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 estimate of $4.57. DA Davidson has a “Buy” rating and a $43.00 price target on the stock. The consensus estimate for Synovus Financial’s current full-year earnings is $3.80 per share.

A number of other research firms have also weighed in on SNV. Morgan Stanley reiterated an “equal weight” rating and issued a $37.00 target price on shares of Synovus Financial in a research note on Monday. The Goldman Sachs Group reduced their target price on Synovus Financial from $46.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Barclays cut their price target on 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. Royal Bank of Canada cut their price target on Synovus Financial from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Finally, Jefferies Financial Group cut their price target on Synovus Financial from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.38.

Synovus Financial Stock Performance

SNV stock opened at $36.59 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $37.92 and its two-hundred day simple moving average is $34.79. Synovus Financial has a twelve month low of $24.40 and a twelve month high of $40.92. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 4.19 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last released its earnings results on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The business had revenue of $537.73 million during the quarter, compared to analysts’ expectations of $547.62 million. During the same quarter in the previous year, the business earned $1.33 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis.

Institutional Investors Weigh In On Synovus Financial

A number of large investors have recently modified their holdings of SNV. AE Wealth Management LLC grew its stake in shares of 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 acquiring an additional 4,980 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Synovus Financial during the third quarter worth about $132,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Synovus Financial during the third quarter worth about $214,000. Raymond James Financial Services Advisors Inc. boosted its position in Synovus Financial by 11.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,867 shares of the bank’s stock valued at $636,000 after buying an additional 2,305 shares during the last quarter. Finally, Sippican Capital Advisors boosted its position in Synovus Financial by 7.2% in the third quarter. Sippican Capital Advisors now owns 7,400 shares of the bank’s stock valued at $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 Dividend Announcement

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

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.