Synovus Financial (NYSE:SNV) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Synovus Financial (NYSE:SNV) posted its quarterly earnings data on Wednesday. The bank reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09, Zacks reports. The business had revenue of $580.58 million during the quarter, compared to the consensus estimate of $566.83 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. Synovus Financial’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. Synovus Financial updated its FY 2025 guidance to EPS.

Synovus Financial Stock Performance

NYSE SNV opened at $55.94 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.88. The company has a fifty day moving average price of $54.36 and a 200-day moving average price of $48.11. Synovus Financial has a 1 year low of $33.44 and a 1 year high of $59.92. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.31 and a beta of 1.39.

Synovus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial’s dividend payout ratio is 68.78%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stephens lifted their price objective on Synovus Financial from $46.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. UBS Group began coverage on shares of Synovus Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 price target for the company. StockNews.com raised Synovus Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. lowered their target price on Synovus Financial from $63.00 to $60.50 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Synovus Financial presently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

About Synovus Financial

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.