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 ...

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]

Synovus Financial (SNV) reported $564.72 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.6%. EPS of $1.23 for the same period compares to $0.84 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $557.26 million, representing a surprise of +1.34%. The company delivered an EPS surprise of +12.84%, with the consensus EPS estimate being $1.09. While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Synovus Financial (SNV) came out with quarterly earnings of $1.23 per share, beating the Zacks Consensus Estimate of $1.09 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.84%. A quarter ago, it was expected that this holding company for Synovus Bank would post earnings of $0.96 per share when it actually produced earnings of $1.16, delivering a surprise of 20.83%. Over the last ...

Analysts on Wall Street project that Synovus Financial (SNV) will announce quarterly earnings of $1.08 per share in its forthcoming report, representing an increase of 28.6% year over year. Revenues are projected to reach $556.61 million, increasing 1.2% from the same quarter last year. The consensus EPS estimate for the quarter has been revised 4.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates durin ...