The stock of Synovus Financial Corp. (NYSE:SNV) decreased by -$0.4 on Tuesday to finish at $29.20, down -1.35 percent. The last five days have seen an average of 1,749,140 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$8.35. The average number of shares traded over the last 20 days was 1,295,305, while the average volume over the last 50 days totaled 1,354,498.
SNV stock dropped -5.68% since last month. On 09/19/23, the company’s shares reached a one-month low of $29.06. The stock touched a high of $44.91 on 02/07/23, after rallying from a low of $25.19 in 52 weeks. The price of SNV stock has declined by -22.24% or -$8.35 this year, reaching a new high 14 times. Still, the stock price is down -34.98% from the 52-week high.
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Insider Transactions
SNV stock investors should be aware that Synovus Financial Corp. (SNV) stock had its last reported insider trading activity 138 days ago on May 05. On May 05, Director Irby John H. acquired 3,575 shares at $28.20 each. This transaction resulted in the insider spending $100,815. On May 05, Creson Shellie added 2,800 shares at a price of US$28.33. After the transaction, the insider now owns 34,648 shares. EVP, Tech., Ops., & Sec. Bishop Daniel Zachary had earlier bought 1,000 shares on May 05 for $27.96 a share. The transaction was completed for $27,960.
Valuation Metrics
Synovus Financial Corp. (SNV) has a trailing price-to-earnings (P/E) ratio of 5.69. Beta for the stock is 1.41. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.59, the price-to-book (PB) ratio of 1.00, and the price-to-cash flow ratio of 2.57.
Company paid $0.38 per share in dividends, remained unchanged from $0.38 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.95, and the total debt to equity ratio is 0.95. Synovus Financial Corp.’s operating margin stood at 67.00% for the same period. Based on annual data, it had gross profit of $1.8 billion and revenue of $2.08 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SNV’s return on assets (ROA) during the last 12 months has been 1.20%. There was a 18.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 18.70%.
Earnings Surprise
According to Synovus Financial Corp.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Synovus Financial Corp.’s quarterly earnings would be $1.16, but it ended up being $1.15, beating the consensus by 0.90%. At the end of Synovus Financial Corp.’s most recent quarter ended June 29, its total debt was $4.43 billion. Equity owned by shareholders amounts to $146.17 million.
Technical Picture
Here’s a quick look at Synovus Financial Corp.’s (SNV) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 34.13%, suggesting the stock is Neutral, with a 24.43% historical volatility rate.
The stochastic %K and %D were 17.19% and 24.70% respectively, while the average true range (ATR) was 0.87. Based on the 14-day stochastic reading of 4.73%, the RSI (14) reading is 38.03%. On the 9-day MACD Oscillator, the stock is at -0.24, and the 14-day reading is at -0.68.
Analyst Ratings
In its most recent analyst report, Janney raised its rating on Synovus Financial Corp. (NYSE: SNV) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Synovus Financial Corp. (SNV) an Buy rating. SNV is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 11 others recommend it as a buy.
What is SNV’s price target for the next 12 months?
The current consensus forecast for the stock is between $30.00 and $45.00, with a median target price of $37.00. In analyzing these forecasts, the average price target given by analysts for Synovus Financial Corp. (SNV) is $37.67.
