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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ______________________________ ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 Commission file number 1-10312 ______________________________ SYNOVUS FINANCIAL CORP. (Exact name of registrant as specified in its charter) ______________________________ Georgia 58-1134883 (State or other jurisdiction of incor ...

Financial Data and Key Metrics - GAAP earnings per share (EPS) for Q3 2024 was $1.18, including an $8.7 million Visa valuation adjustment Adjusted diluted EPS was $1.23, up 6% sequentially, driven by stronger net interest income, lower provision for credit losses, and stable adjusted noninterest expense [4] - Net interest margin (NIM) expanded by 2 basis points to 3.22% in Q3 2024, with net interest income increasing by 1% sequentially [6] - Net charge-offs improved to 25 basis points in Q3 2024, down from 32 basis points in Q2 2024 [5] - Common equity Tier 1 (CET1) ratio reached 10.65%, the highest in nine years, and total risk-based capital stood at 13.62% [12] - Adjusted return on average assets (ROAA) was 1.3%, and adjusted return on tangible common equity (ROTCE) was 17.1% [7] Business Line Data and Key Metrics - Loan production increased by 8% sequentially and 6% year-over-year, with growth in middle market, Corporate and Investment Banking (CIB), and specialty lending lines [8] - Core deposit balances rose by $295 million (1%) sequentially, with growth in money market and operating accounts partially offset by declines in noninterest-bearing deposits [9] - Adjusted noninterest revenue declined by 4% sequentially but increased by 15% year-over-year, driven by growth in commercial sponsorship income, capital markets, and treasury and payment solutions [10] - Noninterest expense was relatively flat quarter-over-quarter and down 1% year-over-year, reflecting cost discipline and strategic investments [11] Market Data and Key Metrics - The company expects period-end loans to remain relatively flat in Q4 2024, with growth driven by middle market, CIB, and specialty lending lines, offset by CRE and senior housing payoffs [13] - Core deposit growth is expected to be within the 1% to 3% range in Q4 2024, aided by seasonal public funds tailwinds [13] - Deposit costs rose by 4 basis points to 2.72% in Q3 2024, with expectations for deposit costs to follow a 40% to 45% beta in Q4 2024 [9] Company Strategy and Industry Competition - The company is focused on strengthening its balance sheet and positioning for growth in 2025, with strategic investments in technology and infrastructure to drive long-term shareholder value [7] - Synovus is reducing nonrelationship lending and focusing on core client growth, particularly in middle market, CIB, and specialty lending lines [8] - The company is leveraging partnerships, such as with GreenSky, to drive growth in commercial sponsorship income and expand its card sponsorship business [6] Management Commentary on Operating Environment and Future Outlook - Management highlighted the impact of Hurricanes Helene and Milton on the community but expressed confidence in the resilience and recovery efforts [4] - The company expects a more constructive growth environment in 2025, with loan growth returning to normalized levels as strategic runoff and payoff activities abate [22] - Management anticipates margin expansion in 2025 as fixed-rate asset repricing tailwinds come into play, particularly after the easing cycle ends [16] Other Important Information - The company completed approximately $100 million in opportunistic share repurchases in Q3 2024, with $80 million remaining in the share repurchase authorization for 2024 [12] - Synovus received national recognition for its corporate culture, innovation, and client service, including being named number six in American Banker's top 20 banks on reputation [69] Q&A Session Summary Question: Margin expectations beyond Q4 2024 - Management expects the margin to remain relatively stable in Q4 2024 and early 2025, with potential expansion later in 2025 as fixed-rate asset repricing tailwinds unlock value [16][18] Question: Loan growth and production outlook for 2025 - Loan production has increased by 70% since Q1 2024, and management is optimistic about growth in 2025, driven by reduced uncertainty post-election and lower rates [21][22] Question: Impact of hedge maturities on hedge costs - $750 million in loan hedges will mature in Q4 2024, with an average rate of 95 basis points The hedge portfolio's effective rate is expected to increase to around 3% by Q2 2025 [24] Question: Capital markets income outlook - Capital markets revenue is expected to remain stable in Q4 2024, with a baseline of $10 million per quarter, driven by derivatives, syndications, and debt capital markets [27][28] Question: Deposit pricing and growth expectations - Deposit betas are expected to follow a 40% to 45% range, with core deposit growth anticipated to continue into 2025, supported by client growth and reduced headwinds [32][34] Question: Credit quality and nonperforming loans - Net charge-offs are expected to remain stable at 25 to 35 basis points in Q4 2024, with management confident in the strength and quality of the loan portfolio [19][30] Question: M&A strategy and industry consolidation - Synovus remains focused on organic growth, adding talent, and investing in technology rather than pursuing acquisitions, with a strong emphasis on market share gains in the Southeast [57] Question: Fixed-rate loan repricing impact in 2025 - Fixed-rate repricing is expected to contribute approximately 15 basis points to the margin in 2025, with the fixed-rate commercial loan book yielding 2% below current market rates [64][65]