Synovus Financial (SNV - Free Report) reported $550.3 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.5%. EPS of $0.84 for the same period compares to $1.34 a year ago.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $542.53 million. With the consensus EPS estimate being $0.86, the EPS surprise was -2.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.1% versus the seven-analyst average estimate of 3%.
- Efficiency Ratio: 64.1% versus 58.4% estimated by seven analysts on average.
- Net charge-offs to average loan: 0.6% versus 0.5% estimated by five analysts on average.
- Total interest earning assets - Average Balance: $56.67 billion versus $56.83 billion estimated by five analysts on average.
- Total Non-performing loans: $280.53 million versus $274.53 million estimated by three analysts on average.
- Total Non-performing Assets: $280.53 million versus the three-analyst average estimate of $276.19 million.
- Tier 1 Capital Ratio: 11.2% versus the two-analyst average estimate of 11.2%.
- Total non-interest revenue: $107.14 million versus $106.45 million estimated by seven analysts on average.
- Net Interest Income (FTE): $444.31 million versus the six-analyst average estimate of $431.88 million.
- Net Interest Income: $443.16 million versus $430.99 million estimated by six analysts on average.
- Mortgage Banking Income: $3.67 million compared to the $4.93 million average estimate based on four analysts.
- Capital markets income: $6.38 million versus the four-analyst average estimate of $7.02 million.
View all Key Company Metrics for Synovus here>>>Shares of Synovus have returned -4.7% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Synovus Financial (SNV - Free Report) reported $550.3 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.5%. EPS of $0.84 for the same period compares to $1.34 a year ago.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $542.53 million. With the consensus EPS estimate being $0.86, the EPS surprise was -2.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.1% versus the seven-analyst average estimate of 3%.
- Efficiency Ratio: 64.1% versus 58.4% estimated by seven analysts on average.
- Net charge-offs to average loan: 0.6% versus 0.5% estimated by five analysts on average.
- Total interest earning assets - Average Balance: $56.67 billion versus $56.83 billion estimated by five analysts on average.
- Total Non-performing loans: $280.53 million versus $274.53 million estimated by three analysts on average.
- Total Non-performing Assets: $280.53 million versus the three-analyst average estimate of $276.19 million.
- Tier 1 Capital Ratio: 11.2% versus the two-analyst average estimate of 11.2%.
- Total non-interest revenue: $107.14 million versus $106.45 million estimated by seven analysts on average.
- Net Interest Income (FTE): $444.31 million versus the six-analyst average estimate of $431.88 million.
- Net Interest Income: $443.16 million versus $430.99 million estimated by six analysts on average.
- Mortgage Banking Income: $3.67 million compared to the $4.93 million average estimate based on four analysts.
- Capital markets income: $6.38 million versus the four-analyst average estimate of $7.02 million.
View all Key Company Metrics for Synovus here>>>Shares of Synovus have returned -4.7% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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