Synovus Financial Reports Q2 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/SNV'>Synovus Financial Corp. (NYSE:SNV)</a> reported its Q2 results, with EPS of $1.17 coming in better than the consensus estimate of $1.09.</p>
<p>According to the analysts at RBC Capital, fundamental trends remain solid with consistent loan growth, good margin expansion, controlled expenses, and relatively clean credit that resulted in another manageable provision. </p>
<p>Reported loans increased 2.6% sequentially to $41.2 billion, with trends broad-based and balanced between commercial and consumer categories. The reported margin increased sequentially to 3.22% reflecting the rate environment. Net interest income increased 8.4% sequentially to $425.4 million.</p>
<p>The 2022 outlook was positively revised higher given management’s optimism on the progress of their ongoing strategic initiatives. The analysts increased their price target on the company’s shares to $52 from $48, while maintaining their outperform rating.</p>

NYSE:SNV