Brokerages expect Synovus Financial Corp. (NYSE:SNV) to announce sales of $448.35 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Synovus Financial’s earnings, with the highest sales estimate coming in at $455.33 million and the lowest estimate coming in at $444.10 million. Synovus Financial reported sales of $487.07 million in the same quarter last year, which indicates a negative year over year growth rate of 7.9%. The firm is expected to report its next earnings report on Tuesday, July 21st.
On average, analysts expect that Synovus Financial will report full-year sales of $1.84 billion for the current financial year, with estimates ranging from $1.77 billion to $1.90 billion. For the next financial year, analysts forecast that the firm will post sales of $1.81 billion, with estimates ranging from $1.73 billion to $1.89 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Synovus Financial.
Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Friday, April 24th. The bank reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.10). The firm had revenue of $477.90 million for the quarter, compared to the consensus estimate of $456.99 million. Synovus Financial had a return on equity of 11.20% and a net margin of 20.00%. Synovus Financial’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share.
Synovus Financial stock traded down $1.84 during trading hours on Friday, hitting $18.87. 2,569,279 shares of the stock were exchanged, compared to its average volume of 1,990,008. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $3.05 billion, a P/E ratio of 6.64, a P/E/G ratio of 2.30 and a beta of 1.65. Synovus Financial has a 12 month low of $10.91 and a 12 month high of $40.32. The business’s 50-day moving average is $20.11 and its two-hundred day moving average is $27.16.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 18th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.32 annualized dividend and a yield of 7.00%. Synovus Financial’s dividend payout ratio is currently 33.85%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SNV. Chevy Chase Trust Holdings Inc. acquired a new position in Synovus Financial in the fourth quarter valued at approximately $44,000. Orion Portfolio Solutions LLC acquired a new stake in Synovus Financial in the fourth quarter worth $47,000. Benjamin F. Edwards & Company Inc. raised its holdings in Synovus Financial by 1,090.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,310 shares of the bank’s stock worth $51,000 after purchasing an additional 1,200 shares during the period. Ancora Advisors LLC acquired a new stake in Synovus Financial in the fourth quarter worth $98,000. Finally, Toronto Dominion Bank raised its holdings in Synovus Financial by 12.8% in the fourth quarter. Toronto Dominion Bank now owns 2,841 shares of the bank’s stock worth $111,000 after purchasing an additional 322 shares during the period. Institutional investors and hedge funds own 78.57% of the company’s stock.
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.
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