Synovus Financial Corp. (NYSE:SNV) – Equities researchers at Jefferies Group dropped their FY2017 EPS estimates for Synovus Financial Corp. in a note issued to investors on Friday. Jefferies Group analyst E. Harmon now forecasts that the firm will post earnings per share of $2.10 for the year, down from their previous estimate of $2.15. Jefferies Group also issued estimates for Synovus Financial Corp.’s FY2018 earnings at $2.30 EPS.

Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Synovus Financial Corp. had a net margin of 18.39% and a return on equity of 8.42%. The company had revenue of $289.30 million for the quarter, compared to analyst estimates of $288.06 million. During the same period in the prior year, the company earned $0.40 earnings per share.

Earnings History and Estimates for Synovus Financial Corp. (NYSE:SNV)

Several other brokerages have also recently commented on SNV. Credit Agricole SA raised shares of Synovus Financial Corp. from an “underperform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $33.00 in a research report on Friday, September 23rd. Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, September 20th. Wells Fargo & Co. cut shares of Synovus Financial Corp. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 23rd. Hovde Group lifted their price objective on shares of Synovus Financial Corp. from $34.00 to $35.50 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Finally, Barclays PLC lifted their price objective on shares of Synovus Financial Corp. from $29.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Synovus Financial Corp. presently has a consensus rating of “Hold” and an average price target of $31.44.

Synovus Financial Corp. (NYSE:SNV) traded down 0.43% during midday trading on Monday, reaching $32.55. 504,329 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $32.64 and its 200-day moving average price is $30.93. The company has a market capitalization of $4.00 billion, a PE ratio of 19.26 and a beta of 1.72. Synovus Financial Corp. has a 1-year low of $25.48 and a 1-year high of $33.80.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.12 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.47%. Synovus Financial Corp.’s dividend payout ratio is presently 28.24%.

Several hedge funds and other institutional investors have recently modified their holdings of SNV. First Citizens Bank & Trust Co. raised its position in shares of Synovus Financial Corp. by 1.0% in the second quarter. First Citizens Bank & Trust Co. now owns 13,617 shares of the company’s stock worth $395,000 after buying an additional 134 shares during the period. M&T Bank Corp raised its position in shares of Synovus Financial Corp. by 1.7% in the second quarter. M&T Bank Corp now owns 10,438 shares of the company’s stock worth $302,000 after buying an additional 170 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Synovus Financial Corp. by 3.7% in the second quarter. Ameritas Investment Partners Inc. now owns 19,844 shares of the company’s stock worth $575,000 after buying an additional 714 shares during the period. Amalgamated Bank raised its position in shares of Synovus Financial Corp. by 5.3% in the second quarter. Amalgamated Bank now owns 16,929 shares of the company’s stock worth $531,000 after buying an additional 856 shares during the period. Finally, Calvert Investment Management Inc. raised its position in shares of Synovus Financial Corp. by 10.3% in the second quarter. Calvert Investment Management Inc. now owns 10,026 shares of the company’s stock worth $291,000 after buying an additional 935 shares during the period. Institutional investors and hedge funds own 76.83% of the company’s stock.

Synovus Financial Corp. Company Profile

Synovus Financial Corp. is a financial services and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its customers through over 30 locally branded banking divisions of its subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

5 Day Chart for NYSE:SNV

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