Synovus Financial

Synovus Financial Corp. is a bank holding company, which engages in the provision of financial services. The company operates through the following segments: Community Banking, Wholesale Banking, and Financial Management Services (FMS). The Community Banking business segment serves customers using a relationship-based approach through its branch, ATM, commercial, and private wealth network in addition to mobile, Internet, and telephone banking. The Wholesale Banking business segment serves primarily larger corporate customers by providing commercial lending and deposit services through specialty teams including middle market, CRE, senior housing, national accounts, premium finance, structured lending, healthcare, asset-based lending, and community investment capital. The Financial Management Services (FMS) business segment serves its customers by providing mortgage and trust services and specializing in professional portfolio management for fixed-income securities, investment banking, the execution of securities transactions as a broker/dealer, asset management, financial planning, and family office services, as well as the provision of individual investment advice on equity and other securities. It offers private banking, treasury management, wealth management, premium finance and international banking, commercial and retail banking, financial management, insurance, and mortgage services to its customers. The company was founded in 1972 and is headquartered in Columbus, GA.

Earnings data Q2 2024

Synovus reports 19% net income growth, focuses on stability and client trust

Synovus' Q1 performance reflects strong net income growth and a focus on stability and trusted client relationships. While facing challenges such as nonperforming loans and potential adjustments to profitability targets, the company sees opportunities in optimizing the balance sheet and attracting top talent.

Synovus reports strong Q2 performance, focuses on expense reduction

Synovus demonstrated resilience in a challenging economic environment, with strong deposit production and a focus on expense reduction. While facing challenges in loan and deposit growth, the bank's strategic adjustments and focus on client growth present opportunities for future performance.

Synovus reports Q3 earnings, focuses on balance sheet optimization

Synovus' Q3 2023 performance reflects challenges from higher deposit costs but also demonstrates strengths in balance sheet optimization and potential revenue opportunities. The bank's focus on maintaining a strong capital position and managing expenses aligns with the macroeconomic uncertainty. Opportunities lie in the reallocation of capital, potential revenue benefits from partnerships, and early positive signs from strategic initiatives.

Synovus reports healthy Q4 earnings and outlines strategic initiatives

Synovus delivered healthy financial performance in Q4 2023, with a focus on growth, client experience, deepening relationships, and preserving safety and soundness. The company's strategic initiatives include expense rationalization, core deposit growth, and a shift towards money market deposits in 2024.

Synovus reports steady growth amidst revenue challenges and margin pressure

Synovus demonstrated solid performance with steady loan and core deposit growth, despite challenges in noninterest revenue and potential margin pressure. The company's strengths lie in service excellence, client satisfaction, and strategic focus on growth opportunities. By addressing challenges and leveraging opportunities, Synovus aims for continued growth and profitability.

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Synovus Financial Corp. is a bank holding company, which engages in the provision of financial services. The company operates through the following segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services (FMS). The Community Banking business segment serves customers using a relationship-based approach through its branch, ATM, commercial, and private wealth network in addition to mobile, Internet, and telephone banking. The Wholesale Banking business segment serves primarily larger corporate customers by providing commercial lending and deposit services through specialty teams including middle market, CRE, senior housing, national accounts, premium finance, structured lending, healthcare, asset-based lending, and community investment capital. The Consumer Banking business segment serves individual and small business clients through its branch and ATM network, in addition to digital and telephone channels. The Financial Management Services (FMS) business segment serves its customers by providing mortgage and trust services and specializing in professional portfolio management for fixed-income securities, investment banking, the execution of securities transactions as a broker/dealer, asset management, financial planning, and family office services, as well as the provision of individual investment advice on equity and other securities. It offers private banking, treasury management, wealth management, premium finance and international banking, commercial and retail banking, financial management, insurance, and mortgage services to its customers. The company was founded in 1972 and is headquartered in Columbus, GA.

Synovus Financial Corp. (NYSE:SNV ) Q1 2024 Earnings Call Transcript April 18, 2024 8:30 AM ET Company Participants Jennifer Demba - Head of Investor Relations Kevin Blair - Chairman, President and CEO Jamie Gregory - CFO Robert Derrick - Chief Credit Officer Conference Call Participants Jon Arfstrom - RBC Capital Markets Ebrahim Poonawala - Bank of America Steven Alexopoulos - JP Morgan Catherine Mealor - KBW Gary Tenner - D.A. Davidson Jared Shaw - Wells Fargo Michael Rose - Raymond James Stephen Scouten - Piper Sandler Brian Wilczynski - Morgan Stanley Timur Braziler - Wells Fargo Russell Gunther - Stephens Christopher Marinac - Janney Montgomery Scott Brandon King - Truist Securities Operator Good morning, and welcome to the Synovus First Quarter 2024 Earnings Call.

Synovus Financial Corp. (SNV) Q1 2024 Earnings Call Transcript

Synovus' (SNV) Q1 results reflect y/y declines in revenues and loan balances, as well as increased expenses and provisions.

Synovus (SNV) Q1 Earnings & Revenues Miss, Expenses Rise Y/Y

Although the revenue and EPS for Synovus (SNV) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Synovus (SNV) Q1 Earnings: A Look at Key Metrics

Synovus Financial (SNV) came out with quarterly earnings of $0.79 per share, missing the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.33 per share a year ago.

Synovus Financial (SNV) Q1 Earnings and Revenues Miss Estimates

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended March 31, 2024.

Synovus announces earnings for the first quarter 2024

Beyond analysts' top -and-bottom-line estimates for Synovus (SNV), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended March 2024.

Unveiling Synovus (SNV) Q1 Outlook: Wall Street Estimates for Key Metrics

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus Financial Corp. has released its 2023 Annual Report, which highlights the company's progress toward its strategic priorities.

Synovus Financial Corp. releases 2023 Annual Report

Synovus (SNV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Synovus Financial (SNV) Q1 Earnings Expected to Decline

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US regional banks' first quarter earnings should demonstrate resilience in earnings per share (EPS) despite a tough revenue growth environment, analysts at the Bank of America believe. They wrote in a note to clients that investors will be looking for potential areas of vulnerability in a higher for longer interest rate backdrop, specifically in commercial real estate, overall credit, and deposit costs.

US regional banks' Q1 earnings expected to show resilient profits despite revenue challenges

Synovus (SNV) unveils a payment solution, Accelerate Pay, to enable commercial banking clients to initiate account payable payments, while eliminating check payments.

Synovus (SNV) Rolls Out Accelerate Pay for Business Payments

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus introduces Accelerate Pay for business payments.

Synovus introduces Accelerate Pay for business payments

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Why S&P Cut Outlook for Five US Regional Banks With Heavy Commercial Real Estate Exposure

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S&P Ratings downgrades the outlook on First Commonwealth, M&T Bank (MTB), Synovus (SNV), Trustmark (TRMK) and Valley National (VLY) to negative from stable.

Outlook on 5 Regional Banks Lowered by S&P on CRE Exposure

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus Financial Corp. (NYSE: SNV) will announce first quarter 2024 earnings results.

Synovus to announce first quarter 2024 earnings results

While balance sheet strength and asset portfolio repositioning will aid Synovus' (SNV) organic growth, rising costs and loan portfolio concentration are worrisome.

Synovus' (SNV) Organic Growth Profile Aids Despite Rising Costs

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus announces quarterly dividends.

Synovus Announces Quarterly Dividends

Synovus Financial Corp. is a provider of commercial and consumer banking services in the United States. Despite the recent decline in net income, Synovus has a strong solvency profile, and its dividend has the potential for growth, making it a good addition to a dividend portfolio. Income investors may also be interested in the two preferreds offered by the company.

Synovus Financial: A Lot Of Income Options Here

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Synovus Financial (SNV) Stock Undervalued Right Now?

Synovus (SNV) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Here's Why Synovus (SNV) Is a Great 'Buy the Bottom' Stock Now

Is Synovus Financial (SNV) a Great Value Stock Right Now?

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair will participate in a fireside chat at the 32nd annual BofA Securities Financial Services Conference at 1 Hotel South Beach in Miami Beach, Florida, on Feb. 21, 2024, at 3:20 p.m. ET. A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/events. Synovus Financial Corp. is a financial services company based in Columbus, Georgia,.

Synovus to participate at BofA Securities Financial Services Conference

Synovus (SNV) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Can Synovus (SNV) Run Higher on Rising Earnings Estimates?

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Synovus' (SNV) Q4 earnings reflect a decline in revenues and loan balances, as well as an increase in expenses and provisions, while higher deposit balance offers some support.

Synovus (SNV) Stock Dips 1% as Q4 Earnings Miss Estimates

Synovus Financial Corp. (SNV) Q4 2023 Earnings Call Transcript

News for Synovus Financial Stock (SNV)