Synovus Financial Corp.
 (SNV)

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  • Jun. 17, 2014, 9:37 AM
    • Synovus (SNV +1.3%) is higher in early trades after being upgraded to a Buy at Drexel Hamilton, the team citing relative valuation amid expectations for improving growth.
    | Jun. 17, 2014, 9:37 AM
  • Jun. 3, 2014, 1:48 PM
    • Synovus (SNV +2.7%) is ahead for a 2nd straight day after KBW upgrades the stock to Outperform. Yesterday, it was Raymond James which boosted the name to Outperform.
    • Both moves come following the bank's 1:7 reverse stock split in May - one of the reasons for which was to garner more institutional interest.
    • Previously: Synovus sets 1:7 reverse stock split
    • May also saw disclosure of a boosted stake in the lender from Ken Griffin's Citadel Investment.
    | Jun. 3, 2014, 1:48 PM
  • May 21, 2014, 6:37 AM
    • Synovus Financial Corp. (SNV) declares $0.07/share quarterly dividend, in line with prior. (reverse stock split of 1 for 7).
    • Forward yield 1.27%.
    • Payable July 1; for shareholders of record June 19; ex-div June 16.
    | May 21, 2014, 6:37 AM
  • May 12, 2014, 3:20 PM
    • Previously showing holdings of 9.2M shares in Synovus Financial (SNV +2.2%), the latest 13F filing from Ken Griffin's Citadel Investment Group shows a stake of 50.83M shares, or 5.2% of the company. The boost comes ahead of the bank's 1-for-7 reverse split that, among other things, could make the stock more attractive to a broader range of shareholders.
    • Previously: Synovus sets 1:7 reverse stock split
    | May 12, 2014, 3:20 PM
  • May 1, 2014, 10:43 AM
    • Flushing Financial (FFIC +1.8%) is upgraded to Buy at Guggenheim.
    • BofA Merrill Lynch upgrades National Bank of Greece (NBG +1.3%) to Neutral.
    • Barclays (BCS +1.3%) is upgraded to Buy amid its plan to set up a “bad bank”.
    • HSBC upgrades ING Groep (ING +0.1%) to Neutral.
    • Morgan Stanley upgrades Synovus Financial (SNV +0.5%) to Equal Weight with a $3.30 PT.
    • Provident Financial Holdings (PROV +0.5%) is upgraded to Buy at Sandler O'Neill after posting Q1 results.
    | May 1, 2014, 10:43 AM
  • Apr. 25, 2014, 8:34 AM
    • Synovus (SNV) expects the split to take effect on May 16, and for shares to begin trading on a post-split basis on May 19.
    • The stock price of the bank has been stuck in the $3 range ever since the financial crisis, and management hopes the boosted price will put the shares on the radar of a broader range of investors.
    • Shares -2.7% premarket
    | Apr. 25, 2014, 8:34 AM | 12 Comments
  • Apr. 22, 2014, 10:24 AM
    • Net income of $45.9M or $0.05 per share compares to $14.8M or $0.02 one year ago.
    • Excluding the sale of Memphis' One Bank, total loans grew at a 3.9% annualized pace in Q1. Credit costs of $17.6M fell from $22.3M in Q4, and $49.3M a year ago. Net charge-offs of $15.2M fell from $25.1M in Q4, $42.1M a year ago. Nonperforming loan inflows of $35M vs. $83.9M a year ago.
    • Net interest income of $200.5M fell a bit from Q4 thanks to two fewer calendar days. NIM of 3.39% rose one basis point. Noninterest income of $70.2M rose $10M from Q4, with most of that coming from gain on Memphis sale and gain on a branch property sale. Mortgage banking income gained $599K Q/Q.
    • Adjusted noninterest expense of $167.1M fell from $167.9M in Q4.
    • Tier 1 Common Equity ratio of 10.24% up from 9.93% at 2013's end.
    • CEO Kessel Stelling: "We expect continued loan growth, further improvement in credit quality, and a continued push on expense reductions."
    • Presentation slides
    • SNV +1.2%
    | Apr. 22, 2014, 10:24 AM
  • Apr. 22, 2014, 7:04 AM
    • Synovus Financial (SNV): Q1 EPS of $0.05 in-line.
    | Apr. 22, 2014, 7:04 AM
  • Apr. 22, 2014, 12:05 AM
  • Apr. 21, 2014, 5:30 PM
  • Mar. 7, 2014, 8:13 AM
    • Synovus Financial Corp. (SNV) declares $0.01/share quarterly dividend, in line with prior.
    • Forward yield 1.14%.
    • Payable April 1; for shareholders of record March 20; ex-div March 18.
    | Mar. 7, 2014, 8:13 AM
  • Jan. 21, 2014, 7:04 AM
    • Synovus Financial Corp (SNV): Q4 EPS of $0.05. (PR)
    | Jan. 21, 2014, 7:04 AM
  • Jan. 21, 2014, 12:05 AM
  • Jan. 20, 2014, 5:30 PM
    | Jan. 20, 2014, 5:30 PM | 1 Comment
  • Dec. 5, 2013, 5:10 PM
    • Synovus Financial Corp. (SNV) declares $0.01/share quarterly dividend, in line with previous.
    • Forward yield 1.17%
    • Payable Jan 2; for shareholders of record Dec. 19; ex-div Dec. 17.
    | Dec. 5, 2013, 5:10 PM
  • Oct. 22, 2013, 1:54 PM
    • Net interest income of $204M is up a hair from Q2, with net interest margin up one basis point to 3.40%. Company expects "slight downward pressure" on NIM in Q4 (presentation slide 7)
    • Noninterest income of $63.6M is off 2.3% from last quarter primarily due to a $2M decline in mortgage banking income (company expects continued modest decline in Q4). Adjusted noninterest expense of $171M up 2%, thanks to higher salaries. Earnings call (transcript): "Expense management is a way of life for us."
    • Total loans of $19.71B is up a hair from Q2. C&I loans growth of $18.1M, a 0.7% annualized rate. Retail loans growth of $83.3M, a 9.5% annualized rate. Q4 loan growth is expected to be modestly stronger (presentation slide 5).
    • Net charge-offs of $23M are off from $30M in Q2 and $96.5M a year ago.
    • Tier 1 Common Equity ratio of 9.93% vs. 8.97% in Q2.
    • SNV -2.4%.
    • Q3 results.
    | Oct. 22, 2013, 1:54 PM | 1 Comment
Company Description
Synovus Financial Corp is a financial services company and a registered bank holding company. It provides integrated financial services including commercial and retail banking, financial management, insurance and mortgage services.