Synovus Financia Stock Price, News & Analysis

Synovus Financial Corp. (NYSE:SNV) President and COO Kevin Blair will present at the Raymond James Virtual Institutional Investors Conference on March 2, 2021, at 1:20 p.m. ET. A live webcast will be accessible at this link. Additionally, the archived webcast will be available on Synovus’ Investor Relations website. Based in Columbus, Georgia, Synovus has approximately $54 billion in assets and provides various banking services across five states.

Synovus Financial Corp. (SNV) reported its 2020 financial results, with net income of $340.5 million ($2.30 per diluted share), down from $540.9 million ($3.47 per share) in 2019. Adjusted earnings per share decreased by 38% to $2.41. The CET1 ratio increased to 9.67%, while the allowance for credit losses rose by $370.7 million. The fourth quarter saw net income of $142.1 million ($0.96 per share), a significant increase from $83.3 million in Q3 2020. Strong deposit growth of 5% sequentially and a reduction in non-interest expenses were highlighted. A CEO transition is set for April 2021.

Synovus Financial Corp (NYSE: SNV) is set to announce its fourth quarter 2020 results on January 26, 2021. The earnings press release will precede the earnings conference call at 8:30 a.m. ET. A live audio webcast and slides will be provided along with the press release. Investors can access a replay of the conference approximately one hour post-call, available for 12 months. Synovus, headquartered in Columbus, Georgia, boasts $53 billion in assets and operates 289 branches across multiple states.

Synovus announces a leadership transition with Kessel Stelling becoming executive chairman on April 21, 2021, coinciding with the annual shareholders meeting. Kevin Blair, currently president and COO, will succeed Stelling as CEO on the same date and join the Synovus Board. Stelling will serve as executive chairman until January 1, 2023, before moving to an advisory role until January 1, 2025. The board highlights the smooth succession plan to maintain stability for stakeholders, emphasizing Blair's leadership skills and commitment to the company's culture.

Synovus Financial Corp (NYSE:SNV) announces that Chairman and CEO Kessel Stelling will speak at the Goldman Sachs U.S. Financial Services Conference on December 9, 2020, at 10:00 a.m. ET. A live webcast of the presentation will be available for investors and interested parties. Synovus, based in Columbus, Georgia, manages approximately $53 billion in assets and provides a range of financial services through 289 branches across five states. The company’s reputation is highlighted as one of the “Most Reputable Banks” in the U.S.

Synovus Bank has launched a dedicated agriculture and timber team to enhance its service in agribusiness segments across Georgia, northwest Florida, and southeast Alabama. This new team, part of the community banking division, includes veterans from the industry with extensive banking experience. Synovus aims to leverage its regional resources and local expertise to create value in the agricultural sector, which is significant for economic growth in the areas served. The bank's commitment to agribusiness is expected to support a growing customer base.

The Board of Directors of Synovus Financial Corp. (NYSE: SNV) has declared quarterly dividends for its common and preferred stocks. Shareholders will receive $0.33 per share on common stock, payable on January 4, 2021, to those on record as of December 17, 2020. For the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, the dividend is $0.39375, payable on December 21, 2020, to shareholders of record as of December 15, 2020. Additionally, Series E stock will yield $0.3671875, payable on January 4, 2021, also to those on record by December 15, 2020.

Synovus Financial Corp (NYSE: SNV) announced that its Chairman and CEO, Kessel Stelling, along with President and COO, Kevin Blair, will participate in a fireside chat at the BofA Securities Future of Financials 2020 Conference. The event is scheduled for November 10, 2020, at 10:30 a.m. ET. Interested parties can access a live webcast of the discussion here. Synovus, based in Columbus, Georgia, manages about $53 billion in assets and operates 288 branches across several states.

Synovus Financial Corp. (NYSE: SNV) reported a third quarter 2020 diluted EPS of $0.56 and adjusted diluted EPS of $0.89. A non-cash goodwill impairment charge of $44.9 million impacted earnings. Loans decreased by $364.5 million sequentially, while core transaction deposits rose by $1.56 billion, a 5% increase. Net interest income held steady at $377 million, with a net interest margin of 3.10%. The provision for credit losses was $43.4 million, while the total risk-based capital ratio improved to 13.16%, the highest since 2014.