Synovus Financial Corp. (NYSE:SNV) – Investment analysts at Jefferies Financial Group cut their Q3 2019 earnings per share estimates for Synovus Financial in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now expects that the bank will earn $0.98 per share for the quarter, down from their prior estimate of $1.01. Jefferies Financial Group also issued estimates for Synovus Financial’s Q4 2019 earnings at $0.99 EPS and FY2019 earnings at $3.95 EPS.
Synovus Financial (NYSE:SNV) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Synovus Financial had a net margin of 24.36% and a return on equity of 15.58%. The business had revenue of $476.50 million for the quarter, compared to analyst estimates of $459.05 million. During the same period last year, the firm earned $0.86 earnings per share. Synovus Financial’s revenue for the quarter was up 39.6% compared to the same quarter last year.
NYSE:SNV opened at $35.42 on Friday. Synovus Financial has a 52 week low of $29.93 and a 52 week high of $55.42. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 1.08 and a beta of 1.31. The business’s 50-day simple moving average is $33.78. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48.
Institutional investors have recently made changes to their positions in the business. Investors Research Corp acquired a new stake in shares of Synovus Financial in the 1st quarter valued at approximately $30,000. Parallel Advisors LLC boosted its stake in shares of Synovus Financial by 118.7% in the 1st quarter. Parallel Advisors LLC now owns 912 shares of the bank’s stock valued at $31,000 after purchasing an additional 495 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Synovus Financial by 262.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the bank’s stock valued at $34,000 after purchasing an additional 724 shares in the last quarter. Bartlett & Co. LLC acquired a new stake in shares of Synovus Financial in the 1st quarter valued at approximately $43,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Synovus Financial in the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 82.17% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Thursday, June 20th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, June 19th. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. Synovus Financial’s payout ratio is 32.97%.
Synovus Financial Company Profile
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
Featured Story: Producer Price Index (PPI)
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.