FY2025 EPS Estimates for Synovus Financial Corp. Cut by DA Davidson (NYSE:SNV)

Synovus Financial Corp. (NYSE:SNV) – Investment analysts at DA Davidson dropped their FY2025 EPS estimates for shares of Synovus Financial in a research note issued to investors on Monday, April 22nd. DA Davidson analyst G. Tenner now expects that the bank will earn $4.39 per share for the year, down from their previous estimate of $4.57. DA Davidson has a “Buy” rating and a $43.00 price target on the stock. The consensus estimate for Synovus Financial’s current full-year earnings is $3.79 per share.

A number of other research firms also recently commented on SNV. The Goldman Sachs Group lowered their target price on Synovus Financial from $46.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Barclays lowered their target price on Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. StockNews.com downgraded Synovus Financial from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 target price (down from $46.00) on shares of Synovus Financial in a research report on Friday, April 19th. Finally, Raymond James downgraded Synovus Financial from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.18.

Synovus Financial Trading Up 2.7 %

Shares of SNV opened at $36.63 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.89 and a quick ratio of 0.89. Synovus Financial has a 1 year low of $24.40 and a 1 year high of $40.92. The company has a 50 day simple moving average of $37.91 and a two-hundred day simple moving average of $34.76. The firm has a market cap of $5.36 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 4.09 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last released its earnings results on Thursday, April 18th. The bank reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The firm had revenue of $537.73 million during the quarter, compared to analysts’ expectations of $547.62 million. During the same period in the prior year, the company posted $1.33 earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year.

Institutional Trading of Synovus Financial

A number of hedge funds have recently bought and sold shares of SNV. Wellington Management Group LLP lifted its holdings in Synovus Financial by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 7,838,693 shares of the bank’s stock worth $295,127,000 after buying an additional 2,843,488 shares during the period. Channing Capital Management LLC purchased a new stake in Synovus Financial during the fourth quarter worth $72,201,000. Norges Bank purchased a new stake in Synovus Financial during the fourth quarter worth $59,941,000. North Reef Capital Management LP lifted its holdings in Synovus Financial by 52.7% during the third quarter. North Reef Capital Management LP now owns 4,485,000 shares of the bank’s stock worth $124,683,000 after buying an additional 1,548,370 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Synovus Financial by 24.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,177,889 shares of the bank’s stock valued at $194,951,000 after purchasing an additional 1,016,231 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were paid a $0.38 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.52 annualized dividend and a yield of 4.15%. Synovus Financial’s dividend payout ratio (DPR) is currently 52.05%.

Synovus Financial Company Profile

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.