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Synovus Financial edges 0.7% higher following Q1 result

Apr. 24, 2018 9:49 AM ETSynovus Financial Corp. (SNV) StockSNVBy: Gaurav Batavia, SA News Editor
  • Adj. Q1 EPS of $0.86 vs. $0.57 due to the high effective tax rate of 32.0% in 1Q17 vs. 22.6% in 1Q18.
  • Adjusted return on average assets 1.36%, up 24 bps from 4Q17 and up 39 bps from 1Q17.
  • Adjusted return on average common equity was 14.86%, up 480 basis points from 1Q17.
  • Net interest margin was 3.78%, up 13 bps from 4Q17 and 36 bps from 1Q17.
  • Adjusted efficiency ratio was 57.42%, up 483 bps from 1Q17.
  • The company expects FY18 average loan growth of 4-6% compared to +3.4% in 1Q17; net interest income growth of +11-13% vs. +14.3% in 1Q17.
  • Conference Call
  • Presentation
  • Prior: Synovus beats by $0.07, misses on revenue
  • SNV +0.70%

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