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%.

In related news, COO Allen J. Gula sold 2,125 shares of the stock in a transaction on Friday, October 27th. The stock was 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 directly owns 72,561 shares in the company, valued at $3,418,348.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip W. Tomlinson sold 1,052 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $48.82, for a total value of $51,358.64. Following the completion of the sale, the director now owns 27,139 shares of the company’s stock, valued at $1,324,925.98. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.

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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.

Earnings History for Synovus Financial (NYSE:SNV)

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