Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ______________________________ ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 Commission file number 1-10312 ______________________________ SYNOVUS FINANCIAL CORP. (Exact name of registrant as specified in its charter) ______________________________ Georgia 58-1134883 (State or other jurisdiction of incor ...

Financial Data and Key Metrics - GAAP earnings per share (EPS) for Q3 2024 was $1.18, including an $8.7 million Visa valuation adjustment Adjusted diluted EPS was $1.23, up 6% sequentially, driven by stronger net interest income, lower provision for credit losses, and stable adjusted noninterest expense [4] - Net interest margin (NIM) expanded by 2 basis points to 3.22% in Q3 2024, with net interest income increasing by 1% sequentially [6] - Net charge-offs improved to 25 basis points in Q3 2024, down from 32 basis points in Q2 2024 [5] - Common equity Tier 1 (CET1) ratio reached 10.65%, the highest in nine years, and total risk-based capital stood at 13.62% [12] - Adjusted return on average assets (ROAA) was 1.3%, and adjusted return on tangible common equity (ROTCE) was 17.1% [7] Business Line Data and Key Metrics - Loan production increased by 8% sequentially and 6% year-over-year, with growth in middle market, Corporate and Investment Banking (CIB), and specialty lending lines [8] - Core deposit balances rose by $295 million (1%) sequentially, with growth in money market and operating accounts partially offset by declines in noninterest-bearing deposits [9] - Adjusted noninterest revenue declined by 4% sequentially but increased by 15% year-over-year, driven by growth in commercial sponsorship income, capital markets, and treasury and payment solutions [10] - Noninterest expense was relatively flat quarter-over-quarter and down 1% year-over-year, reflecting cost discipline and strategic investments [11] Market Data and Key Metrics - The company expects period-end loans to remain relatively flat in Q4 2024, with growth driven by middle market, CIB, and specialty lending lines, offset by CRE and senior housing payoffs [13] - Core deposit growth is expected to be within the 1% to 3% range in Q4 2024, aided by seasonal public funds tailwinds [13] - Deposit costs rose by 4 basis points to 2.72% in Q3 2024, with expectations for deposit costs to follow a 40% to 45% beta in Q4 2024 [9] Company Strategy and Industry Competition - The company is focused on strengthening its balance sheet and positioning for growth in 2025, with strategic investments in technology and infrastructure to drive long-term shareholder value [7] - Synovus is reducing nonrelationship lending and focusing on core client growth, particularly in middle market, CIB, and specialty lending lines [8] - The company is leveraging partnerships, such as with GreenSky, to drive growth in commercial sponsorship income and expand its card sponsorship business [6] Management Commentary on Operating Environment and Future Outlook - Management highlighted the impact of Hurricanes Helene and Milton on the community but expressed confidence in the resilience and recovery efforts [4] - The company expects a more constructive growth environment in 2025, with loan growth returning to normalized levels as strategic runoff and payoff activities abate [22] - Management anticipates margin expansion in 2025 as fixed-rate asset repricing tailwinds come into play, particularly after the easing cycle ends [16] Other Important Information - The company completed approximately $100 million in opportunistic share repurchases in Q3 2024, with $80 million remaining in the share repurchase authorization for 2024 [12] - Synovus received national recognition for its corporate culture, innovation, and client service, including being named number six in American Banker's top 20 banks on reputation [69] Q&A Session Summary Question: Margin expectations beyond Q4 2024 - Management expects the margin to remain relatively stable in Q4 2024 and early 2025, with potential expansion later in 2025 as fixed-rate asset repricing tailwinds unlock value [16][18] Question: Loan growth and production outlook for 2025 - Loan production has increased by 70% since Q1 2024, and management is optimistic about growth in 2025, driven by reduced uncertainty post-election and lower rates [21][22] Question: Impact of hedge maturities on hedge costs - $750 million in loan hedges will mature in Q4 2024, with an average rate of 95 basis points The hedge portfolio's effective rate is expected to increase to around 3% by Q2 2025 [24] Question: Capital markets income outlook - Capital markets revenue is expected to remain stable in Q4 2024, with a baseline of $10 million per quarter, driven by derivatives, syndications, and debt capital markets [27][28] Question: Deposit pricing and growth expectations - Deposit betas are expected to follow a 40% to 45% range, with core deposit growth anticipated to continue into 2025, supported by client growth and reduced headwinds [32][34] Question: Credit quality and nonperforming loans - Net charge-offs are expected to remain stable at 25 to 35 basis points in Q4 2024, with management confident in the strength and quality of the loan portfolio [19][30] Question: M&A strategy and industry consolidation - Synovus remains focused on organic growth, adding talent, and investing in technology rather than pursuing acquisitions, with a strong emphasis on market share gains in the Southeast [57] Question: Fixed-rate loan repricing impact in 2025 - Fixed-rate repricing is expected to contribute approximately 15 basis points to the margin in 2025, with the fixed-rate commercial loan book yielding 2% below current market rates [64][65]

Synovus Financial (SNV) reported $564.72 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.6%. EPS of $1.23 for the same period compares to $0.84 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $557.26 million, representing a surprise of +1.34%. The company delivered an EPS surprise of +12.84%, with the consensus EPS estimate being $1.09. While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Synovus Financial (SNV) came out with quarterly earnings of $1.23 per share, beating the Zacks Consensus Estimate of $1.09 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.84%. A quarter ago, it was expected that this holding company for Synovus Bank would post earnings of $0.96 per share when it actually produced earnings of $1.16, delivering a surprise of 20.83%. Over the last ...

Synovus Exhibit 99.2 INCOME STATEMENT DATA (Unaudited) | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------|-------|---------------------|---------------|-------------------------|------------------| | (Dollars in thousands, except per share data) | | | Nine Months | Ended September 30, | '24 vs '23 | | Interest income | $ | 2024 2,394,459 | $ | 2023 2,262,061 | % Change 6 % | | Interest expense N ...

Analysts on Wall Street project that Synovus Financial (SNV) will announce quarterly earnings of $1.08 per share in its forthcoming report, representing an increase of 28.6% year over year. Revenues are projected to reach $556.61 million, increasing 1.2% from the same quarter last year. The consensus EPS estimate for the quarter has been revised 4.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates durin ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Synovus Financial (SNV) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 16, 2024, might help the stock move higher if these key numbers are bette ...

Shares of Synovus Financial Corp. (SNV) slid 2.1% after it announced that the third-quarter 2024 net interest income (NII) is likely to be impacted by the muted loan growth environment and the impact of expected Federal Reserve rate cuts. Other banks like Regions Financial Corporation's (RF) third-quarter 2024 NII is expected to be flat to up 2% from $1.2 billion in the second quarter. PNC Financial (PNC) anticipates its NII to rise 1-2% in third-quarter 2024 from $3.3 billion reported in the second quarter ...

I t I I I TH I 11 I t I 0 i I I 1 J. Michael Jones After my recent article recommending Wells Fargo Preferred Series L (WFC.PR.L), I received several suggestions about other preferred issues. Most of them were interesting, and I especially liked reader Deehena's mention of Synovus Financial Corp. Fixed-Rate Reset Non-Cumulative Preferred E (NYSE:SNV.PR.E). Synovus Financial, based in Columbus, Ga., is the holding company for Synovus Bank. It is the nation's 38th largest commercial bank with $59 billion in a ...