Synovus Financial Corp. (NYSE:SNV) – Equities researchers at SunTrust Banks boosted their Q1 2018 earnings per share estimates for Synovus Financial in a research note issued to investors on Monday. SunTrust Banks analyst J. Demba now anticipates that the bank will post earnings per share of $0.75 for the quarter, up from their previous estimate of $0.63. SunTrust Banks currently has a “Buy” rating and a $54.00 target price on the stock. SunTrust Banks also issued estimates for Synovus Financial’s Q2 2018 earnings at $0.82 EPS, Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.90 EPS, Q1 2019 earnings at $0.82 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.91 EPS and Q4 2019 earnings at $0.96 EPS.

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

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Synovus Financial from a “buy” rating to a “hold” rating and set a $54.00 price target on the stock. in a research note on Friday, January 5th. Robert W. Baird reaffirmed an “average” rating and issued a $47.00 price target on shares of Synovus Financial in a research note on Wednesday, January 3rd. Barclays upped their price target on Synovus Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price target on shares of Synovus Financial in a research note on Friday, December 22nd. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $50.00 price target on shares of Synovus Financial in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.30.

Synovus Financial (NYSE SNV) opened at $49.86 on Tuesday. The firm has a market capitalization of $5,960.00, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 0.99. Synovus Financial has a 12 month low of $37.95 and a 12 month high of $51.09.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, December 21st were issued a $0.15 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Synovus Financial’s dividend payout ratio is presently 24.19%.

In related news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $46.29, for a total value of $462,900.00. Following the sale, the executive vice president now owns 43,488 shares in the company, valued at approximately $2,013,059.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Allen J. Gula sold 2,125 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.11, for a total value of $100,108.75. Following the completion of the sale, the chief operating officer now owns 72,561 shares in the company, valued at approximately $3,418,348.71. The disclosure for this sale can be found here. Insiders sold a total of 13,177 shares of company stock worth $614,367 in the last quarter. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. 361 Capital LLC purchased a new stake in Synovus Financial during the 2nd quarter worth about $4,032,000. Schwab Charles Investment Management Inc. increased its holdings in Synovus Financial by 1.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 635,793 shares of the bank’s stock worth $28,128,000 after purchasing an additional 10,009 shares during the period. ClariVest Asset Management LLC increased its holdings in Synovus Financial by 3.4% during the 3rd quarter. ClariVest Asset Management LLC now owns 183,500 shares of the bank’s stock worth $8,452,000 after purchasing an additional 6,100 shares during the period. Bank of Nova Scotia purchased a new stake in Synovus Financial during the 2nd quarter worth about $17,745,000. Finally, BlackRock Inc. increased its holdings in Synovus Financial by 3.6% during the 2nd quarter. BlackRock Inc. now owns 10,607,093 shares of the bank’s stock worth $469,257,000 after purchasing an additional 370,743 shares during the period. Hedge funds and other institutional investors own 77.81% of the company’s stock.

TRADEMARK VIOLATION WARNING: “SunTrust Banks Research Analysts Boost Earnings Estimates for Synovus Financial Corp. (SNV)” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2018/01/10/suntrust-banks-research-analysts-boost-earnings-estimates-for-synovus-financial-corp-snv.html.

Synovus Financial Company Profile

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 (NYSE:SNV)

Receive News & Ratings for Synovus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial and related companies with MarketBeat.com's FREE daily email newsletter.