FY2025 EPS Forecast for Synovus Financial Lifted by Analyst

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

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

SNV has been the subject of a number of other research reports. Piper Sandler raised their price objective on Synovus Financial from $56.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Stephens restated an “equal weight” rating and set a $58.00 price objective on shares of Synovus Financial in a research note on Thursday, January 16th. Finally, Evercore ISI upped their target price on shares of Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Synovus Financial Price Performance

Shares of NYSE SNV opened at $55.37 on Wednesday. The company has a 50 day simple moving average of $54.09 and a two-hundred day simple moving average of $48.62. Synovus Financial has a fifty-two week low of $33.44 and a fifty-two week high of $59.92. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.15 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88.

Institutional Investors Weigh In On Synovus Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Synovus Financial during the third quarter valued at $30,000. UMB Bank n.a. lifted its position in shares of Synovus Financial by 87.2% during the 3rd quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock valued at $33,000 after buying an additional 348 shares in the last quarter. Quarry LP bought a new position in shares of Synovus Financial during the 3rd quarter valued at approximately $41,000. Brooklyn Investment Group bought a new position in shares of Synovus Financial during the 3rd quarter valued at approximately $56,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Synovus Financial by 30.6% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,598 shares of the bank’s stock worth $64,000 after acquiring an additional 374 shares in the last quarter. 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 paid a dividend of $0.38 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.75%. Synovus Financial’s dividend payout ratio is currently 49.84%.

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.