Synovus Financial (SNV - Free Report) reported $488.68 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 19.1%. EPS of $0.80 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of -7.38% over the Zacks Consensus Estimate of $527.6 million. With the consensus EPS estimate being $0.94, the EPS surprise was -14.89%.
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:
- Efficiency Ratio: 72% compared to the 63.5% average estimate based on seven analysts.
- Net Interest Margin: 3.1% versus the seven-analyst average estimate of 3.1%.
- Net charge-offs to average loan: 0.4% compared to the 0.4% average estimate based on five analysts.
- Total interest earning assets - Average Balance: $55.99 billion versus the five-analyst average estimate of $56.44 billion.
- Total Non-performing loans: $288.18 million compared to the $288.85 million average estimate based on three analysts.
- Total Non-performing Assets: $288.18 million compared to the $288.85 million average estimate based on three analysts.
- Total risk-based capital ratio: 13.1% compared to the 13.1% average estimate based on two analysts.
- Tier 1 Capital Ratio: 11.3% compared to the 11.2% average estimate based on two analysts.
- Total non-interest revenue: $51.47 million versus the seven-analyst average estimate of $69.18 million.
- Net Interest Income: $437.21 million compared to the $431.57 million average estimate based on six analysts.
- Net Interest Income (FTE): $438.43 million versus $433.32 million estimated by six analysts on average.
- Mortgage Banking Income: $3.02 million versus $3.58 million estimated by four analysts on average.
View all Key Company Metrics for Synovus here>>>Shares of Synovus have returned -8% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Synovus Financial (SNV - Free Report) reported $488.68 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 19.1%. EPS of $0.80 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of -7.38% over the Zacks Consensus Estimate of $527.6 million. With the consensus EPS estimate being $0.94, the EPS surprise was -14.89%.
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:
- Efficiency Ratio: 72% compared to the 63.5% average estimate based on seven analysts.
- Net Interest Margin: 3.1% versus the seven-analyst average estimate of 3.1%.
- Net charge-offs to average loan: 0.4% compared to the 0.4% average estimate based on five analysts.
- Total interest earning assets - Average Balance: $55.99 billion versus the five-analyst average estimate of $56.44 billion.
- Total Non-performing loans: $288.18 million compared to the $288.85 million average estimate based on three analysts.
- Total Non-performing Assets: $288.18 million compared to the $288.85 million average estimate based on three analysts.
- Total risk-based capital ratio: 13.1% compared to the 13.1% average estimate based on two analysts.
- Tier 1 Capital Ratio: 11.3% compared to the 11.2% average estimate based on two analysts.
- Total non-interest revenue: $51.47 million versus the seven-analyst average estimate of $69.18 million.
- Net Interest Income: $437.21 million compared to the $431.57 million average estimate based on six analysts.
- Net Interest Income (FTE): $438.43 million versus $433.32 million estimated by six analysts on average.
- Mortgage Banking Income: $3.02 million versus $3.58 million estimated by four analysts on average.
View all Key Company Metrics for Synovus here>>>Shares of Synovus have returned -8% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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