Hot Stock Alert: Synovus Financial Corp. (NYSE: SNV)

Carolyn Scherer

COLUMBUS, Ga., January 19, 2019 – Shares of Synovus Financial Corp. (NYSE: SNV) showed the bullish trend with a higher momentum of 0.88% to $40.00. The company traded total volume of 1.066M shares as contrast to its average volume of 1.27M shares. The company has a market value of $5.90B and about 147.49M shares outstanding.

Synovus Financial Corp. (SNV) reported that adjusted total revenues in the third quarter came in at $494.20M, up 36.2% year over year.

Net interest income surged 37.9% year over year to $402.10M. Yet, net interest margin shrunk 20 basis points (bps) to 3.69%. Non-interest income climbed 23.8% to $88.80M, including a favorable adjustment in the fair value of private equity investments. Rise in almost all components of income drove this upside.

Non-interest expenses were $276.30M, flaring up 25.4% year over year. Notably, rise in almost all components of expenses resulted in this increase.

Total deposits totaled $37.40B, decreasing 1.4% sequentially. Total loans, however, climbed slightly from the prior quarter to $36.40B.

The Company offered net profit margin of 26.30%. ROE was recorded as 12.30% while beta factor was 1.36. The stock, as of recent close, has shown the weekly upbeat performance of 2.93% which was maintained at 2.04% in this year.

Carolyn Scherer

Carolyn Scherer

I am Carolyn Scherer I give “Tech Business Week” an insight into the most recent news hitting the “Financial” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 924 Heritage Road Visalia, CA 93291, USA Phone: (+1) 559-735-0405 Email: Carolynscherer@techbusinessweek.com