Synovus (SNV) Q1 Earnings & Revenues Miss, Expenses Rise Y/Y [Yahoo! Finance]
Synovus Financial Corp. (SNV)
Last synovus financial corp. earnings: 4/24 06:30 am
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Source: Yahoo! Finance
Also, adjusted earnings compared unfavorably with $1.33 earned in the year-ago quarter. Results were affected by declines in net interest income (NII) and non-interest revenues. A slight reduction in loan balances, and increased expenses and provisions were other undermining factors. Net income available to common shareholders was $114.8 million, plunging 41% from the prior-year quarter. Revenues Fall & Expenses Rise Total revenues in the first quarter were $537.7 million, down 12.4% from the prior-year quarter. The top line lagged the Zacks Consensus Estimate of $548.9 million. NII fell 13% year over year to $418.8 million. This was primarily due to a dip in average earnings assets and higher funding costs. The net interest margin declined 39 basis points (bps) to 3.04%. Non-interest revenues decreased 11% to $118.8 million. The main reasons behind the decline were lower capital market income and mortgage banking income. Non-interest expenses were $322.7 million, up mar
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News
- AI won't have 'huge' effect on Big Tech earnings: Strategist [Yahoo! Finance]Yahoo! Finance
- Synovus Financial Corp. (NYSE: SNV) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Truist Financial Co. from $45.00 to $39.00. They now have a "buy" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Royal Bank of Canada from $44.00 to $41.00. They now have an "outperform" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Piper Sandler from $46.00 to $42.00. They now have an "overweight" rating on the stock.MarketBeat
SNV
Earnings
- 4/17/24 - Miss
SNV
Sec Filings
- 4/26/24 - Form 8-K
- 4/25/24 - Form 4
- 4/25/24 - Form 4
- SNV's page on the SEC website