Equities research analysts expect Synovus Financial Corp. (NYSE:SNV) to post $338.89 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Synovus Financial’s earnings. The highest sales estimate is $342.28 million and the lowest is $336.00 million. Synovus Financial reported sales of $307.54 million in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The company is scheduled to announce its next earnings results on Tuesday, January 16th.
According to Zacks, analysts expect that Synovus Financial will report full year sales of $338.89 million for the current financial year, with estimates ranging from $1.29 billion to $1.37 billion. For the next fiscal year, analysts expect that the business will report sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Synovus Financial.
Synovus Financial (NYSE:SNV) last announced its earnings results on Tuesday, October 17th. The bank reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $398.01 million for the quarter, compared to analyst estimates of $331.27 million. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. During the same quarter in the previous year, the firm posted $0.65 EPS.
In other news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $46.29, for a total value of $462,900.00. Following the completion of the sale, the executive vice president now directly owns 43,488 shares of the company’s stock, valued at $2,013,059.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip W. Tomlinson sold 1,052 shares of the stock in a transaction that occurred 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 directly owns 27,139 shares of the company’s stock, valued at $1,324,925.98. The disclosure for this sale can be found here. Insiders sold 13,177 shares of company stock valued at $614,367 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SNV. Balentine LLC raised its position in Synovus Financial by 0.4% in the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after acquiring an additional 12 shares in the last quarter. TLP Group LLC purchased a new position in Synovus Financial in the second quarter worth $145,000. Advisory Services Network LLC increased its position in shares of Synovus Financial by 17.8% in the second quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock valued at $152,000 after buying an additional 519 shares in the last quarter. Patten Group Inc. increased its position in shares of Synovus Financial by 61.1% in the third quarter. Patten Group Inc. now owns 5,729 shares of the bank’s stock valued at $164,000 after buying an additional 2,172 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Synovus Financial by 16.5% in the second quarter. PNC Financial Services Group Inc. now owns 4,120 shares of the bank’s stock valued at $182,000 after buying an additional 583 shares in the last quarter. Hedge funds and other institutional investors own 77.81% of the company’s stock.
Shares of Synovus Financial (SNV) opened at $49.35 on Friday. The company has a market cap of $5,838.30, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 2.49 and a beta of 1.13. Synovus Financial has a twelve month low of $37.95 and a twelve month high of $51.09. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, December 21st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Synovus Financial’s payout ratio is 24.19%.
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.
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