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Synovus Financial (SNV) Company Profile

Updated Mar 8, 2019
Synovus Financial has the following business profile:
Company's Full Name:Synovus Financial Corp.
Short Name:Synovus Financial
Trading Ticker Symbol:SNV
Primary Exchange:NYSE
Headquarter City/Country:Georgia, GA
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks
Dividend Payments:Dividend History

Market and Trading Information for Synovus Financial

The following details were available for trading and market data about the stock of Synovus Financial as of writing:
Current Share Price:$37.9
Previous Year's Closing Price:$31.99
Percentage Price Change (YTD):18.47%
Market Cap:$6.03 billion
52-week Price Range:$29.93 - $57.4
Dividend Per Share:$0.9
EPS (TTM):3.47
Price-Earnings (Trailing):10.92
Price-Earnings (Forward):8.73

Company Profile and Business Description for Synovus Financial

Synovus Financial Corp., incorporated on June 9, 1972, is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee. The Company also provides life insurance premium financing. As of December 31, 2016, the Bank operated through 28 locally branded bank divisions throughout Alabama, Florida, Georgia, South Carolina and Tennessee. The Bank offers commercial banking services and retail banking services. The Bank's commercial banking services include cash management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans.

The Bank's retail banking services include accepting customary types of demand and savings deposits accounts; mortgage, installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services, and bank credit card services, including MasterCard and Visa services. The Company's subsidiary, Synovus Securities, Inc., specializes in professional portfolio management for fixed-income securities, investment banking, the execution of securities transactions as a broker/dealer, asset management and financial planning services, and the provision of individual investment advice on equity and other securities. The Company's subsidiary, Synovus Trust Company, N.A., provides trust services, and its subsidiary, Synovus Mortgage Corp., offers mortgage services.

Lending Activities

As of December 31, 2016, the Bank's loan portfolio included loans for investment properties; loans for one- to four-family properties; land acquisition loans; commercial, financial and agricultural loans; home equity lines; consumer mortgages; credit cards, and other retail loans. As of December 31, 2016, the Bank's total loans amounted to $23.86 billion.

Investment Activities

The Company's investment securities portfolio consists principally of debt securities classified as available for sale. As of December 31, 2016, $2.04 billion of its investment securities were pledged to secure certain deposits and securities sold under repurchase agreements as required by law and contractual agreements. As of December 31, 2016, its investment securities available for sale included the United States Treasury securities, the United States government agency securities, securities issued by the United States government sponsored enterprises, mortgage-backed securities issued by the United States government agencies, mortgage-backed securities issued by the United States government sponsored enterprises, collateralized mortgage obligations issued by the United States government agencies or sponsored enterprises, state and municipal securities, equity securities and other investments. As of December 31, 2016, its investment securities portfolio had a total fair value of $3.72 billion.

Sources of Funds

Core deposits represent the primary source of funds for lending and investing activities. Scheduled payments, as well as prepayments, from its loan and investment portfolios also provide a source of funds. Additional funding sources, which provide liquidity, include the Federal Home Loan Banks (FHLB) advances, brokered deposits and other short-term borrowed funds, as well as equity and debt issued through the capital markets. Deposits are attracted principally from customers within its retail branch network through the offering of an array of deposit products to individuals and businesses, including non-interest bearing demand deposit accounts, interest-bearing demand deposit accounts, savings accounts, money market deposit accounts and time deposit accounts. As of December 31, 2016, the Bank's total average deposits amounted to $23.88 billion.

1111 Bay Ave Ste 500,

Peer / Competitor Companies of Major Banks Sector

Along with Synovus Financial Corp., the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

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▶ Allegiance Bancshares (ABTX): Allegiance Bancshares, Inc., incorporated on April 30, 2008, is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily ....See Detailed Company Profile  and Dividend History.

▶ American National Bankshares (AMNB): American National Bankshares Inc. operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segm....See Detailed Company Profile  and Dividend History.

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▶ Ames National (ATLO): Ames National Corporation, incorporated on January 15, 1975, is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks ....See Detailed Company Profile  and Dividend History.

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▶ Associated Banc-Corp (ASB): Associated Banc-Corp, incorporated on October 20, 1964, is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a ....See Detailed Company Profile  and Dividend History.

▶ Atlantic Capital Bancshares (ACBI): Atlantic Capital Bancshares, Inc. operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, m....See Detailed Company Profile  and Dividend History.

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▶ BancFirst (BANF): BancFirst Corporation, incorporated on July 12, 1984, is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. The Company ....See Detailed Company Profile  and Dividend History.

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