Core Insights - Synovus Financial (SNV) reported quarterly earnings of $1.25 per share, exceeding the Zacks Consensus Estimate of $1.16 per share, and showing a significant increase from $0.80 per share a year ago, representing an earnings surprise of 7.76% [1] - The company posted revenues of $580.58 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.26% and up from $488.68 million year-over-year [2] - Synovus shares have increased approximately 4.8% since the beginning of the year, contrasting with a decline of -0.7% in the S&P 500 [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.08 on revenues of $563.17 million, while for the current fiscal year, the estimate is $4.70 on revenues of $2.32 billion [7] - The estimate revisions trend for Synovus is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Banks - Southeast industry, to which Synovus belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Interest income for 2024 increased to $3,193,589 thousand, a 5% rise from $3,050,358 thousand in 2023[2] - Net interest income after provision for credit losses decreased by 1% to $1,612,892 thousand from $1,627,576 thousand[2] - Total non-interest revenue dropped significantly by 41% to $239,604 thousand compared to $404,010 thousand in 2023[2] - Net income attributable to Synovus Financial Corp. decreased by 11% to $482,460 thousand from $543,705 thousand[2] - Net income available to common shareholders fell by 13% to $439,557 thousand from $507,755 thousand[2] - Net income per common share, basic, decreased by 12% to $3.05 from $3.48[2] - Return on average assets declined to 0.81%, down 9 basis points from 0.90%[2] - Return on average common equity decreased to 9.50%, down 267 basis points from 12.17%[2] - Non-interest expense reduced by 7% to $1,247,543 thousand from $1,335,424 thousand[2] Asset and Liability Management - Total assets increased to $60,233,644 thousand as of December 31, 2024, up from $59,589,628 thousand in the previous quarter[4] - Net loans decreased slightly to $42,122,183 thousand from $42,635,689 thousand quarter-over-quarter[4] - Total deposits rose to $51,095,359 thousand, compared to $50,193,740 thousand in the prior quarter, reflecting a growth of 1.8%[4] - Total shareholders' equity decreased to $5,266,251 thousand from $5,378,171 thousand quarter-over-quarter[4] - Average interest-earning assets decreased to $55,086,834 thousand in 2024 from $56,696,007 thousand in 2023[5] - Total interest-bearing liabilities were $41,044,576 thousand, with a total interest expense of $344,137 thousand, resulting in an average rate of 3.34%[1] Interest Income and Yield - Net interest income for 2024 was $1,749,577 thousand, compared to $1,816,655 thousand in 2023, indicating a decrease of 3.7%[5] - The yield on commercial loans increased to 6.74% in 2024 from 6.43% in 2023, while consumer loans rose to 5.23% from 4.98%[5] - The net interest margin for 2024 was 3.19%, slightly down from 3.21% in 2023[5] - Total interest earning assets for Q4 2024 were $55,422,486 thousand, with net interest income of $454,993 thousand, resulting in a net interest margin of 3.28%[6] - Commercial loans averaged $34,278,042 thousand in Q4 2024, generating interest income of $569,759 thousand at a yield of 6.61%[1] - Total investment securities were $10,623,943 thousand in Q4 2024, with an interest income of $91,038 thousand and a yield of 3.43%[1] - Interest-bearing demand deposits increased to $11,298,352 thousand in Q4 2024, with an interest expense of $67,470 thousand at a rate of 2.38%[1] Loan Performance and Credit Quality - The allowance for loan losses was $486,845 thousand, slightly up from $484,985 thousand in the previous quarter[4] - Non-performing loans (NPL) totaled $309,164 thousand, a 7% increase year-over-year from $288,177 thousand[12] - The allowance for loan losses (ALL) increased to $486,845 thousand, up 2% from $479,385 thousand year-over-year[12] - Total non-performing assets (NPAs) reached $309,549 thousand, reflecting a 7% increase from $288,177 thousand year-over-year[12] - The net charge-offs for the quarter were $28,101 thousand, with a year-to-date total of $133,994 thousand[12] - The total commercial real estate non-performing loans decreased by 10% quarter-over-quarter to $77,804 thousand[12] - The total consumer non-performing loans increased by 5% quarter-over-quarter to $74,106 thousand[12] - Past due loans over 90 days and still accruing increased significantly to $48,592 thousand, compared to $5,053 thousand in the previous year[12] Capital Ratios and Shareholder Value - The common equity tier 1 capital ratio improved to 10.84%, compared to 10.22% a year ago[13] - The Tier 1 capital ratio rose to 11.96%, up from 11.28% year-over-year[13] - The book value per common share increased to $33.35, compared to $31.24 a year ago[13] - Cash dividends declared per common share remained stable at $1.52[2] - The net unrealized losses on investment securities available for sale were $(391.6) million in Q4 2024, an improvement from $(424.6) million in Q3 2024[8]

Core Viewpoint - Synovus Financial (SNV) is expected to report significant growth in quarterly earnings and revenues, with analysts projecting earnings of $1.16 per share, a 45% increase year-over-year, and revenues of $567.77 million, reflecting a 16.2% increase compared to the same period last year [1]. Earnings Projections - The consensus EPS estimate for the quarter has been revised upward by 0.2% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are strongly correlated with short-term stock price performance [3]. Key Financial Metrics - Analysts project a 'net interest margin, taxable equivalent' of 3.2%, up from 3.1% a year ago [5]. - The 'Efficiency ratio - TE' is expected to be 54.8%, a significant improvement from 72% reported in the same quarter last year [5]. - The 'Average Balance - Total interest earning assets' is estimated to be $54.67 billion, down from $55.99 billion a year ago [5]. Non-Performing Loans and Assets - 'Non-performing Loans (NPLs)' are projected to reach $300.97 million, compared to $288.18 million reported in the same quarter last year [6]. - 'Non-performing Assets (NPAs)' are expected to be $302.06 million, up from $288.18 million in the previous year [6]. Revenue Estimates - Total non-interest revenue is estimated at $121.84 million, a significant increase from $51.47 million reported in the same quarter last year [7]. - 'Net interest income taxable equivalent' is projected at $440.22 million, slightly up from $438.43 million a year ago [7]. - The consensus estimate for 'Net Interest Income' stands at $439.38 million, compared to $437.21 million in the same quarter last year [8]. Additional Revenue Streams - 'Card fees' are expected to reach $19.55 million, down from $20.87 million reported in the same quarter last year [8]. - 'Capital markets income' is projected at $8.77 million, up from $5.10 million a year ago [9]. - 'Brokerage revenue' is expected to be $20.86 million, compared to $19.73 million last year, while 'Mortgage banking income' is projected at $3.99 million, up from $3.02 million [9]. Stock Performance - Over the past month, shares of Synovus have returned -4.1%, compared to the Zacks S&P 500 composite's -2.2% [10].

Financial Performance - Synovus Financial Corp. is set to release its fourth-quarter financial results on January 15, 2025, with expected earnings of $1.22 per share, an increase from 84 cents per share in the same period last year [1] - The company projects quarterly revenue of $19.43 billion, up from $17.44 billion a year earlier [1] Stock Upgrade and Price Target - Barclays upgraded Synovus Financial's stock from Equal-Weight to Overweight and raised its price target from $70 to $95 [2] Dividend Information - Synovus Financial currently offers an annual dividend yield of 2.90%, translating to a quarterly dividend of 38 cents per share, or $1.52 annually [2] - To earn $500 monthly from dividends, an investment of approximately $207,020 or around 3,947 shares is required, while a more modest $100 monthly would need about $41,383 or 789 shares [2] Dividend Yield Calculation - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price, which can fluctuate based on changes in stock price and dividend payments [3][4] - For example, if a stock pays an annual dividend of $2 and is priced at $50, the yield is 4%, but if the price rises to $60, the yield drops to 3.33% [3] Recent Stock Performance - Shares of Synovus Financial gained 0.1% to close at $52.45 on Wednesday [4]

Synovus Financial Corp. (SNV) shares have gained 31.5% in the past six months, outperforming the industry’s growth of 19.7%. The stock has also outperformed its close peers like Hancock Whitney Corporation (HWC) and F.N.B. Corporation (FNB) in the same time frame.Six-Month Price PerformanceImage Source: Zacks Investment ResearchAfter such a strong rally, investors are left wondering whether they should buy SNV stock now or wait for a better entry point. Let us find out.What’s Aiding SNV’s Performance?Positi ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Synovus Financial (SNV) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 15, 2025, might help the stock move higher if these key numbers are better ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Synovus Financial (SNV) , which belongs to the Zacks Banks - Southeast industry, could be a great candidate to consider.This holding company for Synovus Bank has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 16.84%.For the las ...

Synovus Financial (NYSE: SNV ) is a regional bank with a presence in the American southeast. In addition to common shares, the bank also offers two issuances of preferred stock, a floating rate Series D (About My Writing: I am currently focused on income investing through either common shares, preferred shares, or bonds. I will occasionally break away and write about the economy at large or a special situation involving a company I've been researching in. I target two articles per week for publication on Mo ...

Synovus Financial (SNV) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this holding company for Synovus Bank, should get reflected in its stock price. After all, empirical research shows a strong correlat ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...