Why Shares of Synovus Financial Soared on Tuesday
Shares of Synovus Financial (NYSE: SNV) climbed 13% on Tuesday after the regional banking company reported better-than-expected second quarter earnings. Bank stocks typically struggle during periods of economic turbulence and low interest rates, but Synovus held its own through the worst of the coronavirus pandemic.
Before markets opened Tuesday, Synovus reported second quarter adjusted earnings of $0.23 per share on revenue of $550.9 million, easily topping consensus expectations for $0.05 per share in earnings on sales of $445.18 million.
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Source Fool.com
