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Synovus (SNV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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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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.