Synovus Financial (SNV) Releases Earnings Results, Beats Estimates By $0.05 EPS
Synovus Financial (NYSE:SNV) announced its quarterly earnings results on Tuesday. The bank reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05, Bloomberg Earnings reports. Synovus Financial had a return on equity of 10.44% and a net margin of 21.39%. The company had revenue of $339.07 million during the quarter, compared to analysts’ expectations of $338.60 million. During the same period in the prior year, the company earned $0.54 EPS. Synovus Financial’s revenue was up 10.3% compared to the same quarter last year.
Shares of Synovus Financial (SNV) opened at $50.78 on Tuesday. The firm has a market capitalization of $6,035.50, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.89 and a beta of 1.13. Synovus Financial has a 1-year low of $37.95 and a 1-year high of $51.29. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.
The business 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 of this dividend was Wednesday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. Synovus Financial’s payout ratio is 24.19%.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Synovus Financial from a “buy” rating to a “hold” rating and set a $54.00 price target for the company. in a research note on Friday, January 5th. Robert W. Baird reiterated an “average” rating and issued a $47.00 price target on shares of Synovus Financial in a research note on Wednesday, January 3rd. Barclays increased 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. Jefferies Group reiterated a “hold” rating and issued a $50.00 price target on shares of Synovus Financial in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $53.00 price target on shares of Synovus Financial in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Synovus Financial currently has a consensus rating of “Hold” and an average target price of $47.30.
ILLEGAL ACTIVITY NOTICE: “Synovus Financial (SNV) Releases Earnings Results, Beats Estimates By $0.05 EPS” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2018/01/23/synovus-financial-snv-releases-earnings-results-beats-estimates-by-0-05-eps.html.
About Synovus Financial
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.
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.