Synovus Financial Corp. (SNV) Releases Earnings Results, Beats Expectations By $0.02 EPS

Synovus Financial Corp. (SNV) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. SNV said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.50. Analysts expectations of $294.52 million. During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on Synovus Financial Corp.. Synovus Financial Corp. was Downgraded by Wells Fargo to ” Underperform” on Aug 23, 2016. Company shares were Reiterated by Hovde Group on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 35.50 from a previous price target of $34 .

Synovus Financial Corp. opened for trading at $32.22 and hit $32.44 on the upside on Friday, eventually ending the session at $32.02, with a gain of 0.85% or 0.27 points. The heightened volatility saw the trading volume jump to 9,88,164 shares. Company has a market cap of $3,936 M.

In a different news, on Aug 8, 2016, Liliana C Mcdaniel (Chief Accounting Officer) sold 300 shares at $31.77 per share price. According to the SEC, on May 18, 2016, R Dallis Jr Copeland (EVP/Chief Banking Officer) sold 8,000 shares at $30.10 per share price. On Feb 4, 2016, Allan E Kamensky (EVP and Corporate Secretary) purchased 3,450 shares at $28.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Synovus Financial Corp. (Synovus) is a financial services 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 28 locally branded banking divisions of its wholly owned subsidiary bank Synovus Bank and other offices in Georgia Alabama South Carolina Florida and Tennessee. Its retail banking services include accepting customary types of demand and savings deposits; mortgage installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services and bank credit card services including MasterCard and Visa services. The Company’s commercial banking services include cash management asset management capital markets services institutional trust services and commercial financial and real estate loans.

Synovus Financial Corp.

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