Synovus Financial (SNV) Stock Price, News & Analysis

15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Synovus Financial in the last year. There are currently 6 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" SNV shares.
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15 equities research analysts have issued 1 year target prices for Synovus Financial's stock. Their SNV share price targets range from $34.00 to $50.00. On average, they predict the company's stock price to reach $41.50 in the next year. This suggests a possible upside of 22.3% from the stock's current price.
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Synovus Financial's stock was trading at $37.65 on January 1st, 2024. Since then, SNV shares have decreased by 9.9% and is now trading at $33.92.
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Synovus Financial saw a decline in short interest in the month of March. As of March 15th, there was short interest totaling 5,780,000 shares, a decline of 24.8% from the February 29th total of 7,690,000 shares. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 4.0% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 17th 2024.
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Synovus Financial Corp. (NYSE:SNV) issued its quarterly earnings results on Wednesday, April, 17th. The bank reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by $0.20. The bank had revenue of $537.73 million for the quarter, compared to analyst estimates of $547.62 million. Synovus Financial had a trailing twelve-month return on equity of 14.95% and a net margin of 15.74%. Synovus Financial's revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 EPS.

Synovus Financial declared a quarterly dividend on Monday, March 4th. Shareholders of record on Thursday, March 21st will be given a dividend of $0.38 per share on Monday, April 1st. This represents a $1.52 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Wednesday, March 20th.
Read our dividend analysis for SNV.

Synovus Financial (NYSE:SNV) pays an annual dividend of $1.52 per share and currently has a dividend yield of 4.15%. SNV has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 43.93%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, SNV will have a dividend payout ratio of 34.16% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for SNV.

ETFs with the largest weight of Synovus Financial (NYSE:SNV) stock in their portfolio include iShares Focused Value Factor ETF (FOVL), SPDR S&P Regional Banking ETF (KRE), Invesco KBW Regional Banking ETF (KBWR), Thrivent Small-Mid Cap ESG ETF (TSME), SPDR S&P Bank ETF (KBE), First Trust Financial AlphaDEX Fund (FXO), iShares U.S. Regional Banks ETF (IAT) and Direxion Daily Regional Banks Bull 3x Shares (DPST).

Synovus Financial updated its FY 2024 earnings guidance on Tuesday, January, 30th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.2 billion.

133 employees have rated Synovus Financial Chief Executive Officer Kessel D. Stelling Jr. on Glassdoor.com. Kessel D. Stelling Jr. has an approval rating of 93% among the company's employees. This puts Kessel D. Stelling Jr. in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Synovus Financial investors own include Energy Transfer (ET), AT&T (T), Citigroup (C), Bank of America (BAC), Huntington Bancshares (HBAN), Pfizer (PFE), Ford Motor (F), JPMorgan Chase & Co. (JPM), Wells Fargo & Company (WFC) and AbbVie (ABBV).

Synovus Financial's stock is owned by a number of retail and institutional investors. Top institutional investors include Allspring Global Investments Holdings LLC (0.20%), Asio Capital LLC (0.09%), Alaska Permanent Fund Corp (0.05%), Welch Group LLC (0.04%), State of Michigan Retirement System (0.02%) and Thomasville National Bank (0.01%). Insiders that own company stock include Allan E Kamensky, Andrew J Jr Gregory, Daniel Zachary Bishop, Diana M Murphy, Eli Samaha, John L Stallworth, Joseph J Prochaska Jr, Kessel D Stelling, Kevin S Blair, Mark G Holladay, Mark G Holladay, Thomas T Dierdorff and Tim E Bentsen.
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Shares of SNV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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