Streetbeat News

SNV

Synovus Financial Corp.

https://www.synovus.com

Industry

Banks - Regional

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and retail banking products and services. It operates through three segments: Community Banking, Wholesale Banking, and Financial Management Services. The company's commercial banking services include treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans. Its retail banking services comprise accepting customary types of demand and savings deposits accounts; mortgage, installment, and other consumer loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services; and bank credit and debit card services. The company also offers various other financial services, including portfolio management for fixed-income securities, investment banking, execution of securities transactions as a broker/dealer, and financial planning services, as well as provides individual investment advice on equity and other securities. As of December 31, 2020, it operated through 289 branches and 389 ATMs in Alabama, Florida, Georgia, South Carolina, and Tennessee. The company was founded in 1888 and is headquartered in Columbus, Georgia.

Open

56.75

Mkt cap

8.2B

Volume

719K

High

57.27

P/E Ratio

25.82

52-wk high

58.66

Low

55.89

Div yield

0.03

52-wk low

26.76

Synovus Financial Corp. (SNV) reported Q4 adjusted earnings of $0.80 per share, missing the consensus estimate of $0.90 by 11.11%. Year-over-year, earnings decreased by 40.74% from $1.35 per share. Quarterly sales were $488.68M, falling short of the $516.58M estimate by 5.40%, and representing a 19.06% decrease from the previous year's $603.78M.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 10:13 pm

Several companies are scheduled to report their earnings on January 17, 2024. Charles Schwab, Prologis, Citizens Financial Group, and U.S. Bancorp will report before the bell, while Discover Financial, Alcoa, H.B. Fuller, Wintrust Financial, NVE, Synovus Financial, and Kinder Morgan will report after the bell. The report includes projected earnings per share and revenue for most companies.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 10:33 am

Synovus Financial Corp. (NYSE:SNV) is scheduled to release its quarterly earnings report on January 17, 2024. Analysts predict an EPS of $0.90. Investors are looking for an earnings beat and positive guidance for future growth. Last quarter, SNV missed EPS estimates by $0.02, resulting in a 2.07% share price drop the following day. Shares are currently trading at $36.02, down 3.3% over the last year, indicating a bearish sentiment among long-term shareholders ahead of the earnings release.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 2:00 pm

Raymond James analyst Michael Rose has upgraded Synovus Financial Corp. (SNV) from Outperform to Strong Buy and increased the price target from $34 to $45.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 5:45 pm

Bank of America analysts are bullish on U.S. banking stocks for 2024, citing a potential soft landing for the economy, lower interest rates, and attractive valuations. The Financial Select Sector SPDR Fund (XLF) and the SPDR S&P Regional Banking ETF (KRE) both saw a 1% increase after the note. Bank of America highlighted several banks with 'Buy' ratings and provided new price objectives, upgrading Truist Financial Corporation (TFC) and emphasizing regional banks like US Bancorp (USB) and KeyCorp (KEY) among others.

Portfolio Pulse from Piero Cingari

January 04, 2024 | 7:11 pm

Synovus Financial Corp (NYSE:SNV) has been the subject of diverse analyst opinions over the past three months, with 8 analysts offering ratings that range from bullish to indifferent. The average 12-month price target for SNV has increased by 11.77% to $37.88, with a high estimate of $46.00 and a low of $31.00. Recent analyst actions include both raised and lowered price targets and ratings. Synovus provides a range of banking services and has four main segments, with Wholesale Banking being the largest. The company's market capitalization is below the industry average, and it has experienced a revenue decline of -11.28% as of September 30, 2023. Additionally, Synovus has a net margin of 16.93%, an ROE of 2.12%, an ROA of 0.15%, and a debt-to-equity ratio of 0.68, all of which are below industry standards.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:00 pm

Evercore ISI Group analyst John Pancari has downgraded Synovus Financial Corp. (SNV) from Outperform to In-Line and set a price target of $40.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:06 pm

Synovus Finl (NYSE:SNV) is set to distribute a dividend of $0.38 per share on January 2, 2024, with an annualized yield of 4.94%. The ex-dividend date was December 20, 2023. The company has shown a positive trend in dividend growth from $1.32 to $1.52 per share from 2020 to 2023, and earnings per share have increased from $2.27 to $4.68 in the same period. This suggests a strong financial health and potential for future dividend increases. Synovus's dividend yield is mid-range compared to peers like New York Community (NYSE:NYCB), which has a 6.65% yield.

Portfolio Pulse from Benzinga Insights

January 02, 2024 | 3:05 pm

Stephens & Co. analyst Russell Gunther has initiated coverage on Synovus Financial Corp. (NYSE:SNV) with an Equal-Weight rating and set a price target of $40.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:56 pm

Goldman Sachs analyst Ryan Nash has maintained a Neutral rating on Synovus Financial Corp. (NYSE:SNV) and increased the price target from $33 to $37.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:04 pm

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