We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Synovus (SNV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
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.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Synovus (SNV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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.