Synovus Financia Stock Price, News & Analysis

Synovus has launched Accelerate Trade, a new portal designed to help international business clients manage global trade finance products more efficiently. The platform streamlines and automates processes, providing visibility into international transactions through a single interface.

The service includes management of letters of credit, documentary collections, export and import financing, and bank guarantees. When combined with Synovus Accelerate FX, it offers comprehensive international banking services with enhanced reporting, workflows, alerts, and payment options. The platform is provided through a collaboration with fintech provider Finzly.

Synovus Financial Corp. (NYSE: SNV) has declared its quarterly dividends. The company will pay $0.38 per share on common stock on January 2, 2025, to shareholders of record as of December 19, 2024. Additionally, preferred stock dividends include $0.52874 per share on Series D stock (payable December 23, 2024) and $0.52481 per share on Series E stock (payable January 2, 2025), both to shareholders of record as of December 15, 2024.

Synovus is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets, offering commercial and consumer banking services across Georgia, Alabama, Florida, South Carolina and Tennessee.

Synovus Financial Corp. (NYSE: SNV) announced that Chairman, CEO and President Kevin Blair will present at the Goldman Sachs 2024 U.S. Financial Services Conference on December 11, 2024, at 11:20 a.m. ET. The presentation will be available via live webcast and replay on the company's investor relations website.

Synovus is a Columbus, Georgia-based financial services company with $60 billion in assets. The company offers commercial and consumer banking services, including wealth management, treasury management, mortgage services, premium finance, asset-based lending, structured lending, capital markets, and international banking. Synovus operates branches across Georgia, Alabama, Florida, South Carolina, and Tennessee.

Synovus Financial Corp has announced the appointment of Anne Fortner as executive vice president and chief credit officer, effective March 31, 2025. Fortner, currently senior vice president and deputy chief credit officer, will succeed Bob Derrick, who is retiring after serving as chief credit officer since 2019. In her new role, Fortner will oversee asset quality, loan policy administration, and credit risk management. She brings 17 years of experience at Synovus and previous commercial banking experience from SouthTrust Bank and Wachovia. The company, based in Columbus, Georgia, manages approximately $60 billion in assets and operates across five states.

Synovus Financial Corp. (NYSE: SNV) has announced the pricing of a $500 million senior notes offering due 2030. The notes will carry a fixed interest rate of 6.168% from November 1, 2024, to November 1, 2029, followed by a floating rate based on SOFR plus 2.347% until November 1, 2030. The offering is expected to close on November 1, 2024. The company plans to use the proceeds for general corporate purposes, including potential debt repayment. BofA Securities and Morgan Stanley are serving as the active joint book-running managers for the offering.

Synovus Financial Corp (NYSE: SNV) has announced an underwritten public offering of senior notes due 2030. The company plans to use the net proceeds for general corporate purposes, including potential repayment of existing debt. BofA Securities and Morgan Stanley will serve as active joint book-running managers, while Synovus Securities will act as a passive book-running manager. The offering is being conducted under an effective registration statement under the Securities Act of 1933.

Synovus Bank has appointed Rick Arbuckle as senior director, middle market for wholesale banking. In this new role, Arbuckle will develop and manage a legal fiduciary services platform providing depository banking and cash management services to professional fiduciaries nationwide. With over three decades of experience, Arbuckle has specialized in creating banking services for professional fiduciaries and pioneered electronic banking solutions for trustees, receivers, and bankruptcy courts. Prior to joining Synovus, he spent 11 years at East West Bank building a national sales platform and held positions at Bank of NY Mellon and Bank of America.

Synovus Financial Corp. (NYSE: SNV) has announced its participation in the BancAnalysts Association of Boston Conference on Nov. 7, 2024. Chairman, CEO and President Kevin Blair and Executive Vice President and CFO Jamie Gregory will engage in a fireside chat at 12:45 p.m. ET. A live webcast and replay will be available on the company's investor relations website.

Synovus, based in Columbus, Georgia, is a financial services company with approximately $60 billion in assets. The company offers a wide range of services including commercial and consumer banking, wealth management, treasury management, and specialized lending. Synovus operates branches across five southeastern states and is recognized as a Great Place to Work-Certified Company.

Synovus Financial Corp. (NYSE: SNV) reported strong third quarter 2024 earnings, with diluted earnings per share of $1.18, up from $0.60 in 3Q23. Adjusted diluted EPS reached $1.23, compared to $0.84 in 3Q23. The company posted an adjusted return on average assets of 1.3% and adjusted return on tangible common equity of 17.1%.

Key highlights include:

• Net income available to common shareholders: $169.6 million
• Pre-provision net revenue: $251.0 million, up 28% year-over-year
• Net interest income increased 1% sequentially to $440.7 million
• Period-end loans rose $27.3 million from Q2 2024
• Core deposits increased $294.6 million sequentially to $45.1 billion
• Non-interest revenue grew 16% year-over-year to $124.0 million
• Provision for credit losses declined 68% year-over-year to $23.4 million
• Preliminary CET1 ratio improved to 10.65%