Synovus Financial Corp. (NYSE: SNV) is 0.93% higher on its value in year-to-date trading and has touched a low of $24.40 and a high of $40.92 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SNV stock was last observed hovering at around $38.08 in the last trading session, with the day’s loss setting it -0.08%.
Currently trading at $38.00, the stock is -2.51% and 0.24% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.08 million and changing -0.21% at the moment leaves the stock 15.17% off its SMA200. SNV registered 23.26% gain for a year compared to 6-month gain of 42.59%.
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The stock witnessed a -0.91% loss in the last 1 month and extending the period to 3 months gives it a 1.28%, and is -1.30% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.40% over the week and 2.49% over the month.
Synovus Financial Corp. (SNV) has around 4879 employees, a market worth around $5.56B and $3.40B in sales. Current P/E ratio is 10.98 and Fwd P/E is 8.58. Profit margin for the company is 14.92%. Distance from 52-week low is 55.74% and -7.14% from its 52-week high. The company has generated returns on investments over the last 12 months (7.31%).
Synovus Financial Corp. quarterly earnings per share for the current quarter are estimated at $0.99 with sales reaching $548.1M over the same period.The EPS is expected to shrink by -2.05% this year, but quarterly earnings will post 0.30% year-over-year. Quarterly sales are estimated to shrink -7.80% in year-over-year returns.
527 institutions hold shares in Synovus Financial Corp. (SNV), with institutional investors hold 86.33% of the company’s shares. The shares outstanding are 146.71M, and float is at 145.29M with Short Float at 3.98%. Institutions hold 85.25% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 15.3 million shares valued at $462.95 million. The investor’s holdings represent 10.47% of the SNV Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 13.9 million shares valued at $420.53 million to account for 9.51% of the shares outstanding. The other top investors are FMR, LLC which holds 9.73 million shares representing 6.65% and valued at over $294.19 million, while State Street Corporation holds 4.70% of the shares totaling 6.87 million with a market value of $207.86 million.
Synovus Financial Corp. (SNV) Insider Activity
The most recent transaction is an insider sale by Hurley Jill K, the company’s Chief Accounting Officer. SEC filings show that Hurley Jill K sold 4,808 shares of the company’s common stock on Feb 28 ’24 at a price of $37.29 per share for a total of $0.18 million. Following the sale, the insider now owns 5137.0 shares.
Synovus Financial Corp. disclosed in a document filed with the SEC on Jan 24 ’24 that Bentsen Tim E (Director) sold a total of 4,671 shares of the company’s common stock. The trade occurred on Jan 24 ’24 and was made at $38.62 per share for $0.18 million. Following the transaction, the insider now directly holds 33144.0 shares of the SNV stock.
Still, SEC filings show that on Jan 23 ’24, Dierdorff Thomas T (EVP, Corp. & Inv. Banking) disposed off 2,045 shares at an average price of $38.23 for $78180.0. The insider now directly holds 11,086 shares of Synovus Financial Corp. (SNV).
