Synovus Financial (SNV) Reports Earnings Tomorrow: What To Expect

Regional banking company Synovus Financial (NYSE:SNV) will be reporting results this Wednesday after the bell. Here’s what you need to know.

Synovus Financial met analysts’ revenue expectations last quarter, reporting revenues of $570.9 million, up 6.2% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ net interest income estimates.

Is Synovus Financial a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Synovus Financial’s revenue to grow 91.1% year on year to $585.1 million, a reversal from the 46.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.26 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Synovus Financial has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Synovus Financial’s peers in the banks segment, only FB Financial has reported results so far. It missed analysts’ revenue estimates by 43.5%, posting year-on-year sales declines of 40.1%.

There has been positive sentiment among investors in the banks segment, with share prices up 11.6% on average over the last month. Synovus Financial is up 14.3% during the same time and is heading into earnings with an average analyst price target of $59.44 (compared to the current share price of $54.69).

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