UPDATE: Synovus Posts Higher Q4 Profit

Synovus Financial SNV reported a rise in its fourth-quarter profit. Synovus' quarterly profit surged to $727.5 million, from $27.4 million, in the year-ago period. On a per-share basis, Synovus earned $0.78 per share, versus $0.01. Its revenue declined 4.3% to $287.6 million, versus analysts' estimates of $279 million. Its net interest margin fell to 3.45%, versus 3.52% in the year-ago quarter. Synovus shares gained 2.58% to $2.78 in pre-market trading.