Synovus Financial (SNV) posted solid quarterly results
earlier today. This Alert is a review of the company's
numbers and we're not recommending any trades for the model
The bank earned $0.39 a share in the fourth quarter, which
was $0.02 ahead of the consensus analyst estimate. Synovus
posted 8% annualized loan and 7% deposit growth in the
period, while the net interest margin ticked down to 3.34%.
The company also experienced higher costs in the quarter,
although credit quality continued to improve. It's also
worth noting that management bought back another 3.0 million
shares in the quarter. Looking ahead to 2015, the company is
targeting mid-single digit loan growth and modest
compression of the net interest margin.
There were few surprises on the conference call and we
maintain our One rating on the stock, which is trading
higher today, at $25.78, in the middle of a broad market
We continue to believe that Synovus can move up through $30
in the coming quarters.
David Peltier & the TheStreet Research Team
Your chance to get an all-access pass to find out for yourself the value of our exclusive services.
Looking for guidance on loan growth and NIM.
We made no changes to the model portfolio this week, as earnings season ramped up and the broader market rose.
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Want more than one service? Sign up to one of our packaged services and take advantage of amazing savings!