Seeking Alpha
 

Synovus Financial Corp. (SNV)

- NYSE
  • Dec. 3, 2014, 4:40 PM
    • Synovus Financial (NYSE:SNV) declares $0.10/share quarterly dividend, 42.85% increase from prior dividend of $0.07.
    • Forward yield 1.54%
    • Payable Jan 2; for shareholders of record Dec. 18; ex-div Dec. 16.
    | Dec. 3, 2014, 4:40 PM | Comment!
  • Oct. 21, 2014, 8:14 AM
    • Q3 net income of $44.2M or $0.32 per share vs. $44.3M and $0.32 in Q2. Excluding net litigation-related expenses, restructuring charges, and Visa indemnification charges, net income was $51.3M or $0.37 per share.
    • Net interest income of $206.3M vs. $205.1M in Q2, with NIM of 3.37% down four basis points.
    • Noninterest income of $64M vs. $63.4M in Q2, with mortgage banking income off 11.7% thanks to lower gains on sale. Mortgage origination volume of $197M vs. $188M.
    • Noninterest expense of $193.7M up $11.6M on the quarter thanks to litigation-related expenses. Adjusted out, noninterest expense of $166.8M slipped 1.6%.
    • Total credit costs of $15.7M fell 7.2% Q/Q and 29.8% Y/Y. Net charge-offs of $12.3M fell 65.4% from Q2.
    • Tier 1 Common Equity ratio of 10.6% up 18 basis points.
    • $250M share repurchase program announced, along with an increase in the dividend to $0.10 from $0.07.
    • Conference call at 8:30 ET
    • Previously: Synovus EPS in-line, misses on revenue
    • SNV flat premarket
    | Oct. 21, 2014, 8:14 AM | Comment!
  • Oct. 21, 2014, 7:04 AM
    • Synovus (NYSE:SNV): Q3 EPS of $0.37 in-line.
    • Revenue of $270.24M (+1.0% Y/Y) misses by $2.01M.
    • Press Release
    | Oct. 21, 2014, 7:04 AM | Comment!
  • Oct. 20, 2014, 5:30 PM
  • Sep. 19, 2014, 9:11 AM
    • The team doubles down on Outperform ratings on Zions Bancorp (NASDAQ:ZION) and Synovus Financial (NYSE:SNV), upgrading both to Strong Buy. ZION is up 1.3% premarket.
    • Texas Capital Bancshares (NASDAQ:TCBI) gets a two-notch upgrade - from Market Perform to Strong Buy - and First Horizon National (NYSE:FHN) is boosted to Outperform from Market Perform.
    • The team partially cashes in its chips on United Community Bank, downgrading to Outperform from Strong Buy. Iberiabank (NASDAQ:IBKC) is cut to Market Perform from Outperform.
    • Cut to Underperform from Market Perform is First Financial Bankshares (NASDAQ:FFIN).
    | Sep. 19, 2014, 9:11 AM | Comment!
  • Sep. 3, 2014, 5:13 PM
    • Synovus (NYSE:SNV) declares $0.07/share quarterly dividend, in line with previous
    • Forward yield 1.15%
    • Payable Oct. 1; for shareholders of record Sept. 18; ex-div Sept. 16.
    | Sep. 3, 2014, 5:13 PM | Comment!
  • Jul. 22, 2014, 8:27 AM
    • Synovus (NYSE:SNV): Q2 EPS of $0.35 misses by $0.13.
    • Revenue of $268.43M (+1.0% Y/Y) beats by $1.9M.
    • Press Release
    | Jul. 22, 2014, 8:27 AM | Comment!
  • Jul. 21, 2014, 5:30 PM
  • 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 | Comment!
  • 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 | Comment!
  • 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 | Comment!
  • 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 | Comment!
  • 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 | Comment!
  • 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
    • Source: Press Release
    | 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."
    • Press release, Q1 results
    • Presentation slides
    • SNV +1.2%
    | Apr. 22, 2014, 10:24 AM | Comment!
  • Apr. 22, 2014, 7:04 AM
    | Apr. 22, 2014, 7:04 AM | Comment!
Visit Seeking Alpha's
SNV vs. ETF Alternatives
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.