NEW YORK (TheStreet) -- Shares of Synovus Financial(SNV) - Get Report were increasing in late-afternoon trading on Tuesday after the company posted higher-than-expected earnings for the 2016 third quarter.
Before today's market open, the Columbus, GA-based bank holding company reported adjusted earnings of 52 cents per diluted share, above analysts' estimates of 50 cents per share.
Total revenue for the period was $294.1 million, while analysts were looking for revenue of $294.4 million.
"We continued to drive diversified loan growth in the quarter and, with the successful closing of the Entaire acquisition in October, we gained an additional entry point for expanded C&I relationships in the future," CEO Kessel Stelling said in a statement.
Entaire is an Atlanta-based private life insurance premium finance lender.
(Synovusis held in David Peltier's Stocks Under $10 portfolio. See all of his holdings with afree trial.)
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, increase in net income, expanding profit margins and good cash flow from operations.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SNV