Synovus Financia Stock Price, News & Analysis

Synovus Financial Corp. (NYSE: SNV) has appointed Stacy Apter, Vice President, Treasurer, and Corporate Finance at The Coca-Cola Company, to its Board of Directors during the 2023 Annual Meeting of Shareholders held on April 26, 2023. Apter brings extensive experience, including her roles in capital management and risk strategies at Coca-Cola since 2005. Her insights in corporate finance and cultural transformation are expected to strengthen Synovus's leadership. Chairman and CEO Kevin Blair expressed confidence that Apter's expertise will enhance the company's strategic direction and shareholder value. Synovus operates with approximately $62 billion in assets, providing a wide range of banking and financial services across multiple states.

Synovus Financial Corp. (NYSE: SNV) reported strong first-quarter 2023 results, achieving a net income of $193.9 million, or $1.32 per diluted share, a 19% increase from the prior year. Adjusted diluted EPS rose to $1.33, marking a 23% rise year-over-year. Total revenue hit $613.9 million, up 23%, largely due to robust loan growth and higher interest rates. Pre-provision net revenue also grew by 30% year-over-year to $292 million. The company saw a sequential increase in total loans by $328.6 million, reaching $44.04 billion, and total deposits rose by $1.08 billion to $49.95 billion. The CET1 capital ratio improved to 9.76%, reflecting ongoing healthy capital generation. However, net interest income fell 4% from the previous quarter to $480.8 million due to rising deposit costs.

Synovus Financial Corp. (NYSE:SNV) has published its 2022 Annual Report, highlighting record financial achievements despite economic fluctuations. CEO Kevin Blair emphasized the company's adept maneuvering through challenging conditions and the momentum heading into 2023. With approximately $60 billion in assets, Synovus offers a wide range of banking services across several states, including Georgia, Alabama, South Carolina, Florida, and Tennessee. The report outlines the company's relationship-centric approach to banking and its commitment to helping clients and communities thrive. Synovus is recognized as a Great Place to Work.

Synovus Bank has announced a commitment of $2 million in corporate donations to nonprofits in Alabama, Georgia, Florida, South Carolina, and Tennessee. This commitment is part of the bank's Corporate Donations Program, which aims to address critical community needs. The 2023 donations represent a nearly 20% increase compared to 2022, helping over 300 organizations focused on affordable housing, economic development, and financial education.

Synovus emphasizes its dedication to community support, with Executive Vice President Alison Dowe stating that investing in nonprofits reflects the bank's core values. The 2024 Corporate Donations Program application will open on July 15, 2023.

Synovus Financial Corp. (NYSE: SNV) is set to announce its first quarter 2023 results on April 20, 2023, with an earnings press release published prior to the earnings conference call at 8:30 a.m. ET. The company, headquartered in Columbus, Georgia, manages approximately $60 billion in assets and offers a wide range of financial services including commercial and consumer banking. The event will be accessible via a live audio webcast, with a replay available on its website for a year following the call.

The board of directors of Synovus Financial Corp. (NYSE: SNV) has declared quarterly dividends for shareholders. Common stock will receive $0.38 per share, payable on April 3, 2023, to holders of record as of March 16, 2023.

The Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, will yield $0.39375 per share, payable on March 21, 2023, for those on record as of March 15, 2023. Additionally, the Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, will pay $0.3671875 per share on April 3, 2023.

Synovus Financial Corp. (NYSE: SNV) will have its Chairman and CEO, Kevin Blair, present at the Raymond James & Associates 44th Annual Institutional Investors Conference on March 7, 2023, at 9:50 a.m. ET. A webcast of the presentation will be available on Synovus’ investor relations website.

Based in Columbus, Georgia, Synovus has approximately $60 billion in assets, offering a range of financial services including commercial and consumer banking, wealth management, and more across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. (NYSE: SNV) will be represented by Chairman, CEO, and President Kevin Blair at the BofA Securities Financial Services Conference in New York City on February 15, 2023, at 8:50 a.m. ET. A live webcast and replay of the event will be accessible on Synovus' investor relations website. Based in Columbus, Georgia, Synovus manages approximately $60 billion in assets, offering a wide range of banking and financial services across Georgia, Alabama, South Carolina, Florida, and Tennessee. More information can be found at synovus.com.