Synovus Financial Corp. Declares Quarterly Dividend of $0.39 (NYSE:SNV)

Key Points

• Synovus Financial Corp. declared a quarterly dividend of $0.39 per share, with a yield of 3.0%, to be paid on October 1st to shareholders of record as of September 18th.
• The company reported a net margin of 21.52% and a return on equity of 16.20% in its latest earnings report, with earnings per share of $1.48, beating expectations.
• Synovus Financial has a dividend payout ratio of 28.8%, indicating that its dividend is well-covered by earnings, and analysts project earnings per share of $5.45 for the next year.

Synovus Financial Corp. (NYSE:SNV - Get Free Report) announced a quarterly dividend on Wednesday, September 3rd, RTT News reports. Investors of record on Thursday, September 18th will be given a dividend of 0.39 per share by the bank on Wednesday, October 1st. This represents a c) annualized dividend and a yield of 3.0%.

Synovus Financial has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Synovus Financial to earn $5.45 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 28.6%.

Synovus Financial Stock Up 0.2%

SNV traded up $0.11 during trading on Wednesday, hitting $51.45. The company had a trading volume of 914,255 shares, compared to its average volume of 1,638,040. The company has a market cap of $7.14 billion, a PE ratio of 9.87, a P/E/G ratio of 0.87 and a beta of 1.22. The business has a 50-day moving average of $51.51 and a 200-day moving average of $48.27. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.92 and a quick ratio of 0.92. Synovus Financial has a 1-year low of $35.94 and a 1-year high of $61.06.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.23. The firm had revenue of $592.08 million for the quarter, compared to analysts' expectations of $584.89 million. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. During the same period in the prior year, the company posted $1.16 earnings per share. Synovus Financial has set its FY 2025 guidance at EPS. As a group, analysts forecast that Synovus Financial will post 4.89 earnings per share for the current year.

Synovus Financial Company Profile

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.

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