Synovus beats Q2 revenue, earnings estimates; raises 2025 guidance

Overview

• Synovus Q2 revenue beats analyst expectations, per LSEG data

• Adjusted EPS rises 28%, exceeding analysts' estimates, per LSEG data

• Co raises full-year 2025 earnings guidance, citing strategic confidence

Outlook

• Synovus raises full-year 2025 earnings guidance, without giving specific details

Result Drivers

• LOAN GROWTH - Funded loan production surged 60% year-over-year, driving 8% annualized loan growth, per CEO Kevin Blair

• CREDIT QUALITY - Improved credit quality across all categories, with non-performing loan and asset ratios improving, per company report

• NON-INTEREST REVENUE - Increase in non-interest revenue driven by higher core banking fees and wealth management income

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Synovus Financial Corp is $58.00, about 8.8% above its July 16 closing price of $52.87

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nBw36V1WTa