Synovus Financial (NYSE:SNV) announced its earnings on July 17. The bank earned $1.16 per share, surpassing expectations of $0.96 by $0.20. Their revenue was $563.6 million, exceeding predictions of $543.52 million, but down 0.7% from last year. Analysts forecast earnings of $4 for this fiscal year and $5 for next year.
Stock Performance
SNV stock opened at $46.54. The company has a market cap of $6.82 billion and a P/E ratio of 15.94. Its 52-week range is from $24.40 to $47.83, with averages of $43.83 (50-day) and $41.04 (200-day).
Dividend Announcement
Synovus recently declared a quarterly dividend of $0.38, paid on October 1, giving an annual yield of 3.27%. The payout ratio is 52.05%.
Analyst Ratings
Analysts have mixed views on the stock: Truist increased its target price to $52.00 with a “buy” rating, while StockNews.com downgraded it to “sell.” The average rating is “Moderate Buy” with a target of $47.94.
Insider Activity
EVP Thomas T. Dierdorff sold 614 shares at $46.20, totaling $28,366.80, retaining 14,833 shares valued at $685,284.60. Company insiders hold 0.81% of the stock.
About Synovus Financial
Synovus Financial Corp. is a bank holding company offering various banking products and services through multiple segments.
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