AP NEWS

Synovus: 4Q Earnings Snapshot

January 24, 2020 GMT

COLUMBUS, Ga. (AP) _ Synovus Financial Corp. (SNV) on Friday reported fourth-quarter profit of $151.7 million.

The Columbus, Georgia-based bank said it had earnings of 97 cents per share. Earnings, adjusted for one-time gains and costs, were 94 cents per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The holding company for Synovus Bank posted revenue of $604.2 million in the period. Its revenue net of interest expense was $497.2 million, topping Street forecasts. Seven analysts surveyed by Zacks expected $483.9 million.

For the year, the company reported profit of $563.8 million, or $3.47 per share. Revenue was reported as $1.95 billion.

Synovus shares have increased roughly 1% since the beginning of the year. The stock has increased 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNV at https://www.zacks.com/ap/SNV