|Bid||36.53 x 800|
|Ask||36.55 x 800|
|Day's Range||36.25 - 37.85|
|52 Week Range||31.80 - 40.41|
|Beta (5Y Monthly)||1.36|
|PE Ratio (TTM)||10.83|
|Earnings Date||Jan 23, 2020|
|Forward Dividend & Yield||1.20 (3.00%)|
|Ex-Dividend Date||Dec 16, 2019|
|1y Target Est||43.13|
Synovus (SNV) delivered earnings and revenue surprises of -3.09% and 2.75%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter and year ended December 31, 2019. The Board of Directors also approved a 10% increase in the Company’s quarterly common stock dividend from $0.30 to $0.33 per share, effective with the quarterly dividend payable in April 2020.
While growth in revenues, and loan and deposit balances aid Signature Bank's (SBNY) Q4 results, escalating costs and provisions, and shrinking net interest margin pose concerns.
Synovus Financial Corp. (NYSE: SNV) today announced the appointment of Dake Madray as corporate treasurer. Madray joins Synovus from SunTrust, where he served most recently as head of treasury portfolio management within the corporate treasury function. Madray succeeds Jody Lowery, who retired last year after 34 years of service.
Synovus (SNV) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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It is already common knowledge that individual investors do not usually have the necessary resources and abilities to properly research an investment opportunity. As a result, most investors pick their illusory “winners” by making a superficial analysis and research that leads to poor performance on aggregate. Since stock returns aren't usually symmetrically distributed and index […]
(Bloomberg) -- Financial technology startups will enter the next decade with a little more street cred than the last time around.Nearly 60 upstarts focusing on financial services -- from Stripe Inc. to Chime Inc. to Plaid Inc. -- have garnered valuations of more than $1 billion in recent years, according to CB Insights. Personal loans -- a category popularized by fintechs like GreenSky Inc. or Affirm Inc. -- are now the fastest growing form of debt in the U.S., Experian data says. And Robinhood sparked a movement toward free stock trading that has shaken the business models of the likes of Charles Schwab Corp. and E*Trade Financial Corp.Still, analysts and experts say there’s more to come. Sweeping mergers and acquisitions have transformed some of the industry’s largest incumbents in payments, who are gearing up for a bigger fight for market share with newcomers. And regulators are looking to have more say over how technology companies venture into financial services.Here’s our annual list of the most important trends, challenges and companies to watch in the New Year.Exit StrategiesMergers and acquisitions have historically been small and rare in the fintech space, but that changed in a big way in 2019. Fiserv Inc., Fidelity National Information Services Inc. and Global Payments Inc. did a series of deals that transformed payment processing in the U.S. More recently, PayPal Holdings Inc. made its largest acquisition ever and Charles Schwab announced it would buy TD Ameritrade Holding Corp. for about $26 billion. That frenzied pace of deal-making might continue through (at least some of) 2020.Lindsay Davis, senior intelligence analyst, CB Insights: “Wealth management will likely see more consolidation from incumbents, who are under pressure to compete for next-gen customers and an army of virally growing fintech apps who have abstracted the client relationship away from the old guard. Charles Schwab buying TD Ameritrade is just the beginning of more strategic consolidation to come.”Matt Harris, partner, Bain Capital Ventures: “I think there is a window during the first half of the year for IPOs, but once summer hits people will be fundamentally distracted by the election. I certainly don’t think it will be fast and furious.”Regulatory ScrutinyMemorably, in 2019 Mark Zuckerberg defended Facebook Inc.’s plan to overhaul the world banking system in front of Congress. (Legislators were not amused.) Our experts think there’s plenty more government scrutiny ahead for financial technology players. That’s even though regulators including the Federal Reserve and the Federal Deposit Insurance Corp. have sought to encourage banks to work with newer technologies like alternative data in their underwriting in an attempt to bring more people into the financial services ecosystem. Companies will need to adjust their strategies accordingly.Alyson Clarke, principal analyst, Forrester: “Regulators are going to start taking a closer look and scrutinizing artificial intelligence. The whole Apple Card and the supposed gender bias -- I think we’ll see more things like this surface. Transparency in AI is critical and ethics in AI is critical and it needs regulatory oversight.”Vanessa Colella, Chief Innovation Officer, Citigroup Inc.: “We want to make sure the people who are transacting are who they say they are. As we get to 40 billion devices online, you can see it’s not just about KYC, or Know Your Customer, it’s KYM, or Know Your Machine -- and being sure that, as these transactions are happening at the edge, that you’re able to validate what the machine is, and whether the machine has the permission and the capability to make that transaction.”The Rise of Digital BanksChime, the leading U.S. digital bank, is now valued at $5.8 billion. That makes it more valuable than some of the country’s largest banks, including New York Community Bancorp, CIT Group Inc. or Synovus Financial Corp. It’s part of a new class of entrants, known as “challenger banks” or “neo-banks,” that’s raised more than $3 billion in venture funding in the first three quarters of this year. With that has come millions of customers. Will they remain loyal? Or will traditional lenders be able to win them back?Frank Rotman, founding partner, QED Investors: “While these neo-banks can’t yet match the complete suite of banking products that a traditional branch-based bank can, this doesn’t matter to the typical consumer because they rarely, if ever, use any of the hundreds of products that are in a bank’s arsenal. So we’ll be talking about challenger banks in 2020 and in 2021 and in 2022 and eventually the ‘challenger’ title will be dropped because they’ll be major players in the ecosystem.”Mitch Siegel, principal, KPMG: “I do believe 2020 is an arms race: You’re going to see a lot of people launching digital banking initiatives. Personalization is what’s changed that game. Cross-selling without personalization seems sleazy but if you can personalize offers, and give me things that are high probability that I actually want them, I’m OK with you trying to sell me other products and services. Make it easy. Know me. Value me. Protect me.”The Bank of Apple? Big Tech Moves InIf you’ve read this annual post before, you’ll be no stranger to predictions that the technology giants of the world will move deeper in to finance. The pace of those moves accelerated this year, however, with Apple launching a credit card with Goldman Sachs Group Inc., Alphabet Inc. announcing a checking product with Citigroup, and Facebook attempting to make a new global currency.Matt Harris: “I think this is inevitable. Tech companies, large and small, will be looking to incorporate payments, lending and insurance in their business models in the coming years, and the smartest and most capable banks will want to be part of that movement. I do think this raises the stakes for pure fintech startups.”Frank Rotman: “The trend is broader than ‘tech getting into finance.’ It should be seen as ‘customer-facing organizations’ offering their customers banking products. Many customer-facing organizations have built up trust with their customers -- as evidenced by high engagement and high net promoter scores -- but don’t want to, nor see the need for, officially becoming a bank. Instead, they can partner with banks that are willing to co-brand or white label their services and offer great banking products to their loyal customers.”Lindsay Davis: “Netflix could also leverage financial services to compete and enable gig-economy workers and freelancers in the film and TV industry, which have been traditionally too niche to serve, and have a unique set of pain points.”To contact the reporters on this story: Julie Verhage in New York at email@example.com;Jenny Surane in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Anne VanderMey, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Synovus Bank today announced that Allen Barker has been named CEO of its North Georgia Division. Barker was previously market president of the Atlanta region. He succeeds Rob Garcia, who resigned to pursue other opportunities.
Pinnacle (Nasdaq: PNFP), the No. 1 ranked bank in the Nashville metropolitan area and third-largest bank in Tennessee ranked by deposits, said Wednesday it's hired Synovus's Rob Garcia to be its Atlanta president.
Synovus Financial Corp. (NYSE: SNV) will announce fourth quarter 2019 results on Friday, January 24, 2020. An earnings press release will be published prior to the earnings conference call, which will begin at 8:30 a.m. ET.
Synovus Financial Corp. is now the largest bank based in Georgia following SunTrust Banks Inc.'s absorption into Truist on Dec. 6.
Synovus Financial Corp. (NYSE: SNV) today announced Kevin Blair as president, effectively immediately. He will continue in his role as chief operating officer (COO), reporting directly to Synovus Chairman and CEO Kessel Stelling. Blair previously served as the company’s chief financial officer (CFO) and was promoted to COO in December 2018.
As we already know from media reports and hedge fund investor letters, hedge funds delivered their best returns in a decade. Most investors who decided to stick with hedge funds after a rough 2018 recouped their losses by the end of the third quarter. We get to see hedge funds' thoughts towards the market and […]
The towers will loom over the Midtown Hattie B's Hot Chicken location, which is in a building that was not part of the real estate deal.