COLUMBUS, Ga. (AP) — Synovus Financial Corp. (SNV) on Tuesday reported fourth-quarter profit of $150.4 million.
The Columbus, Georgia-based bank said it had earnings of 96 cents per share. Earnings, adjusted for one-time gains and costs, were $1.08 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The holding company for Synovus Bank posted revenue of $548.2 million in the period. Its revenue net of interest expense was $500.7 million, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $482 million.
For the year, the company reported profit of $373.7 million, or $2.30 per share. Revenue was reported as $2.02 billion.
Synovus shares have climbed 13% since the beginning of the year. The stock has fallen 7% 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
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