Synovus Financial (SNV) Tops Q4 EPS by 3c

Synovus Financial (NYSE: SNV) reported Q4 EPS of $0.39, $0.03 better than the analyst estimate of $0.36. Revenue for the quarter came in at $263.8 million versus the consensus estimate of $272.3 million.

“We are pleased with our fourth quarter performance, which contributed to an overall solid 2014,” said Kessel D. Stelling, Synovus Chairman and CEO. “For the year, net income available to common shareholders was $185 million, a 56.1% increase over 2013. Loans grew by 5.2%, and we saw continued broad-based improvement in credit quality, especially in the non-performing loan ratio which ended the year at 0.94%. We continued to maintain strong capital levels throughout 2014, and announced in October our plan to return excess capital to shareholders through a $250 million stock repurchase plan and a 43% increase in the common stock dividend. As we enter 2015, our focus remains on caring for customers and improving profitability through balance sheet and fee income growth, as well as a continued focus on efficiency.”

For earnings history and earnings-related data on Synovus Financial (SNV) click here.

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