Synovus Financial Corp. (NYSE:SNV) – FIG Partners lifted their Q4 2017 earnings per share (EPS) estimates for shares of Synovus Financial Corp. in a research note issued to investors on Wednesday. FIG Partners analyst C. Marinac now forecasts that the bank will post earnings per share of $0.65 for the quarter, up from their previous forecast of $0.62. FIG Partners also issued estimates for Synovus Financial Corp.’s Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.70 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $0.74 EPS and FY2018 earnings at $2.84 EPS.

A number of other research analysts have also weighed in on SNV. Barclays PLC reissued an “equal weight” rating and issued a $46.00 target price (up from $44.00) on shares of Synovus Financial Corp. in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC reissued a “hold” rating and issued a $47.00 target price on shares of Synovus Financial Corp. in a report on Friday, July 14th. BidaskClub lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Finally, Royal Bank Of Canada started coverage on shares of Synovus Financial Corp. in a report on Monday, July 17th. They issued an “outperform” rating and a $51.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $44.82.

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Synovus Financial Corp. (NYSE SNV) traded up 0.17% during trading on Thursday, reaching $46.53. 191,490 shares of the company’s stock were exchanged. Synovus Financial Corp. has a 12-month low of $31.87 and a 12-month high of $47.32. The stock’s 50-day moving average is $44.44 and its 200-day moving average is $43.05. The company has a market cap of $5.65 billion, a P/E ratio of 21.13 and a beta of 1.10.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. The business had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. During the same quarter in the previous year, the company earned $0.65 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Analysts LLC boosted its stake in Synovus Financial Corp. by 10.3% during the second quarter. Capital Analysts LLC now owns 20,248 shares of the bank’s stock worth $896,000 after buying an additional 1,893 shares during the period. TD Asset Management Inc. boosted its stake in shares of Synovus Financial Corp. by 11.5% during the second quarter. TD Asset Management Inc. now owns 31,135 shares of the bank’s stock valued at $1,377,000 after purchasing an additional 3,200 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Synovus Financial Corp. by 34.9% during the first quarter. OppenheimerFunds Inc. now owns 7,726 shares of the bank’s stock valued at $317,000 after purchasing an additional 1,998 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Synovus Financial Corp. by 1.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 635,793 shares of the bank’s stock valued at $28,128,000 after purchasing an additional 10,009 shares during the period. Finally, Credit Suisse AG boosted its stake in shares of Synovus Financial Corp. by 54.8% during the first quarter. Credit Suisse AG now owns 1,325,506 shares of the bank’s stock valued at $54,372,000 after purchasing an additional 469,509 shares during the period. 77.87% of the stock is owned by institutional investors.

In other Synovus Financial Corp. news, EVP Kevin Joseph Howard sold 7,000 shares of Synovus Financial Corp. stock in a transaction on Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the completion of the transaction, the executive vice president now directly owns 46,490 shares of the company’s stock, valued at $2,016,271.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Curtis J. Perry sold 7,062 shares of Synovus Financial Corp. stock in a transaction on Monday, July 24th. The stock was sold at an average price of $43.86, for a total transaction of $309,739.32. Following the transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at $2,633,266.68. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 21st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, September 20th. Synovus Financial Corp.’s payout ratio is 24.19%.

About Synovus Financial Corp.

Synovus Financial Corp. is a financial services company 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 locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

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

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