Wall Street analysts forecast that Synovus Financial Corp. (NYSE:SNV) will report $488.23 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Synovus Financial’s earnings, with the highest sales estimate coming in at $497.90 million and the lowest estimate coming in at $481.20 million. Synovus Financial posted sales of $491.40 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.6%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, October 19th.
On average, analysts expect that Synovus Financial will report full year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.93 billion to $1.97 billion. For the next financial year, analysts expect that the business will post sales of $1.97 billion, with estimates ranging from $1.91 billion to $2.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Synovus Financial.
Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Monday, July 19th. The bank reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.17. Synovus Financial had a net margin of 28.77% and a return on equity of 14.65%. The business had revenue of $488.95 million for the quarter, compared to analyst estimates of $486.99 million. During the same period in the previous year, the business posted $0.23 earnings per share.
Shares of Synovus Financial stock traded up $2.02 on Thursday, reaching $41.82. 1,088,748 shares of the stock were exchanged, compared to its average volume of 934,188. Synovus Financial has a 1-year low of $19.39 and a 1-year high of $50.51. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $41.87 and a two-hundred day moving average price of $44.95. The firm has a market capitalization of $6.12 billion, a PE ratio of 10.72, a PEG ratio of 1.12 and a beta of 1.62.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Thursday, September 16th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, September 15th. Synovus Financial’s payout ratio is 54.77%.
In other Synovus Financial news, EVP Mark G. Holladay sold 1,500 shares of the stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the transaction, the executive vice president now owns 59,799 shares of the company’s stock, valued at $2,579,130.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.11% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SNV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Synovus Financial by 0.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,589 shares of the bank’s stock valued at $2,269,000 after purchasing an additional 231 shares in the last quarter. IFP Advisors Inc grew its holdings in Synovus Financial by 15.6% during the 1st quarter. IFP Advisors Inc now owns 1,724 shares of the bank’s stock valued at $79,000 after purchasing an additional 233 shares in the last quarter. Independent Advisor Alliance grew its holdings in Synovus Financial by 4.6% during the 2nd quarter. Independent Advisor Alliance now owns 5,574 shares of the bank’s stock valued at $245,000 after purchasing an additional 243 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Synovus Financial by 4.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 6,108 shares of the bank’s stock valued at $268,000 after purchasing an additional 258 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Synovus Financial by 4.0% during the 1st quarter. HighTower Advisors LLC now owns 7,534 shares of the bank’s stock valued at $345,000 after purchasing an additional 291 shares in the last quarter. 76.40% of the stock is owned by institutional investors.
Synovus Financial Company Profile
Synovus Financial Corp. is a bank holding company, which engages in the provision of financial services. The company operates through the following segments: Community Banking, Wholesale Banking, and Financial Management Services (FMS). The Community Banking business segment serves customers using a relationship-based approach through its branch, ATM, commercial, and private wealth network in addition to mobile, Internet, and telephone banking.
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