Boston, MA 04/11/2014 (wallstreetpr) – Synovus Financial Corp. (NYSE:SNV) is a $3 billion financial organization. The company provides a range of financial products and services including, but not limited to financial management, mortgage services, insurance and retail and commercial banking solutions.
The bank recently announced settlement of a shareholders’ suit at $11.75 million. The settlement is linked to the controversial $400 million loan advanced to the bankrupt real estate company Sea Island.
The scorecard
Away from the financial settlement with shareholders, the financial services provider is gearing up to report its first quarter results in 2014. The company is currently putting final touches on its report that is expected to detail how it generated revenue and possible profits. The report will cover the trading duration from January to March.
Moreover, the company is expected to provide a glimpse into how fiscal year 2014 is unfolding about its business performance. The results will provide investors with a picture of the company’s prospects or challenges. Those details are important for investors’ future investment decisions.
The company’s CEO Kessel Sterlling will lead the team to unveil the fiscal 2014 first quarter results before the NYSE opening bell on April 22.
After aggressive consolidation and expenses management efforts, Wall Street expects the company to achieve profit growth in the future. However, in the upcoming financial results, the analysts expect Synovus Financial Corp. (NYSE:SNV) to report a profit of a nickel a share. The analysts also expect the company to move all the way to profit of $0.20 per share for the full-year 2014.
After the news
After the release of the results on April 22, the company will hold shareholders annual meet during which executives are expected to sum up the company’s fiscal 2013 performance. Such meetings are sometimes characterized by criticism of the management by the vocal investors.
Leaner and solid business
Banks are currently undergoing consolidation to comply with regulatory requirements. They are also adjusting their various operations to become smaller, efficient and more profitable. Synovus Financial Corp. (NYSE:SNV) is doing the same as the company can be seen putting in place competitive cost and expense controls.
