Synovus beats Street 4Q forecasts
Synovus Financial posts 4Q profit, results beat Street expectations
COLUMBUS, Ga. (AP) _ Synovus Financial Corp. (SNV) on Tuesday reported fourth-quarter earnings of $68.5 million.
The Columbus, Georgia-based bank said it had earnings of 54 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The holding company for Synovus Bank posted revenue of $338.5 million in the period. Its adjusted revenue was $307.5 million, also topping Street forecasts. Seven analysts surveyed by Zacks expected $300.4 million.
For the year, the company reported profit of $246.8 million, or $1.89 per share. Revenue was reported as $1.17 billion.
Synovus shares have increased roughly 2 percent since the beginning of the year. The stock has climbed 42 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNV at https://www.zacks.com/ap/SNV
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Keywords: Synovus Financial, Earnings Report
