Synovus Financial (SNV) will announce quarterly results on
Tuesday morning. This Alert is a review of the company’s numbers
and we’re not recommending any trades for the model portfolio.
The Georgia-based bank is expected to earn $0.37 a share in the
third quarter, up from $0.28 in the previous year, on $272.2
million of revenue. In addition, investors will be paying close
attention to the company’s net interest margin.
Synovus will host a conference call at 8:30 a.m. ET that can be
accessed at the website: www.synovus.com/webcast. A replay will
also be available online for a year. On the call, we’ll be
listening for management’s expectation for interest rates into
Into the print, we maintain our One rating on the stock, which
is currently changing hands around $22.71. We believe Synovus
can deliver above-average growth in the coming quarters and
maintain that shares can trade up toward the high-$20s in the
David Peltier & the TheStreet Research Team
The company also boosted its quarterly dividend.
Pay close attention to the bank's net interest margin.
Amid the wild market swings, we used the selloff early in the week to add to seven of our model portfolio positions.
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