Synovus Financial Corp. - SNV STOCK NEWS

Synovus Financial Corp. (NYSE: SNV) reported a diluted EPS of $1.16 for Q2 2022, a slight decrease from $1.19 in Q2 2021. Revenue rose to $523 million, a 7% year-over-year increase, driven by robust loan growth and improved margins. Loans increased by $1.04 billion sequentially, with non-performing loans at historically low levels. Despite an uncertain economic outlook, the company remains focused on growth and client relationships. Total deposits reached $49.03 billion, reflecting seasonal trends and rate-driven outflows.

Synovus Financial Corp (NYSE: SNV) has appointed John H. Irby and Alexandra Villoch to its board of directors, effective July 1, 2022. Irby brings over 30 years of legal and commercial real estate expertise, while Villoch leads philanthropic efforts at Baptist Health Foundation and has a strong background in media. Both directors are recognized for their commitment to community service and possess diverse skills which are expected to enhance Synovus' strategic direction.

Synovus Financial Corp. (NYSE: SNV) will announce its second quarter 2022 results on July 21, 2022. The earnings press release will precede the earnings conference call at 8:30 a.m. ET. Investors can access a live audio webcast and slides through the company's investor relations website, with a replay available for 12 months post-call. Synovus, headquartered in Columbus, Georgia, manages approximately $56 billion in assets and provides a variety of banking and financial services across several southeastern states.

The Board of Directors of Synovus Financial Corp. (NYSE: SNV) has announced quarterly dividends. Shareholders will receive $0.34 per share on common stock, payable on July 1, 2022, to those on record by June 16, 2022. Additionally, a dividend of $0.39375 per share on Series D Preferred Stock will be paid on June 21, 2022, for shareholders on record by June 15, 2022, while $0.3671875 will be distributed for Series E Preferred Stock, also on July 1, 2022.

Synovus Bank has announced a strategic investment in Qualpay, acquiring a 60% ownership stake. This partnership aims to enhance Qualpay's payment solutions and integrate its technology into Synovus's forthcoming money-as-a-service platform, Maast. Maast seeks to simplify embedded payments and banking for independent software vendors (ISVs), allowing them to offer various financial services under their own brand. The investment is subject to regulatory approvals, and both companies express optimism about future growth and service enhancements in the fintech space.

Synovus Financial Corp. (NYSE: SNV) reported Q1 2022 results, showing diluted earnings per share of $1.11, down from $1.19 in Q1 2021. Net income fell to $162.7 million primarily due to increased provisions for credit losses. Total loans increased by 11% annualized, reaching $40.17 billion, while core transaction deposits rose by 4% annualized. Adjusted pre-provision net revenue was $213 million, up 9% year-over-year, supported by a 10% growth in net interest income excluding PPP fees. The company increased its 2022 financial expectations amidst a challenging landscape.

Synovus Financial Corp. (NYSE: SNV) will announce its first quarter 2022 results on April 21, 2022, with an earnings press release available prior to the conference call at 8:30 a.m. ET. A live audio webcast and accompanying slides will be accessible on their investor website. The company, based in Columbus, Georgia, manages approximately $57 billion in assets and provides a range of financial services across multiple states including Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. (NYSE: SNV) will have its President and CEO, Kevin Blair, present at the Raymond James Institutional Investors Conference on March 8, 2022, at 7:30 a.m. ET in Orlando. A live webcast of the presentation will be available, along with a replay on Synovus' Investor Relations website. Headquartered in Columbus, Georgia, Synovus has approximately $57 billion in assets, offering a range of financial services across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. has declared its quarterly dividends for shareholders. A payment of $0.34 per share on common stock will be made on April 1, 2022, to shareholders of record as of March 17, 2022. Additionally, $0.39375 per share will be paid on Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, on March 21, 2022, to shareholders of record by March 15, 2022. The company also announced a $0.3671875 dividend on Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, payable on April 1, 2022.