Synovus Financial Corp (NYSE: SNV) is 48.79% higher on its value in year-to-date trading and has touched a low of $29.34 and a high of $59.79 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 $55.03 in the last trading session, with the day’s gains setting it 0.99%.
Currently trading at $56.02, the stock is 4.18% and 14.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.84 million and changing 1.80% at the moment leaves the stock 33.01% off its SMA200. SNV registered 87.48% gain for a year compared to 6-month gain of 44.12%. The firm has a 50-day simple moving average (SMA 50) of $48.5504 and a 200-day simple moving average (SMA200) of $42.0123.
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The stock witnessed a 14.33% loss in the last 1 month and extending the period to 3 months gives it a 21.49%, and is 0.63% up 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 2.50% over the week and 3.15% over the month.
Synovus Financial Corp (SNV) has around 4879 employees, a market worth around $7.94B and $3.35B in sales. Current P/E ratio is 25.37 and Fwd P/E is 12.14. Profit margin for the company is 9.59%. Distance from 52-week low is 90.93% and -6.31% from its 52-week high. The company has generated returns on investments over the last 12 months (4.36%).
Synovus Financial Corp quarterly earnings per share for the current quarter are estimated at 1.15 with sales reaching $563.4M over the same period.The EPS is expected to grow by 6.05% this year, but quarterly earnings will post -11.11% year-over-year. Quarterly sales are estimated to grow 15.29% in year-over-year returns.
567.0 institutions hold shares in Synovus Financial Corp (SNV), with institutional investors hold 88.28% of the company’s shares. The shares outstanding are 146.71M, and float is at 140.81M with Short Float at 2.72%. Institutions hold 87.13% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 14.35 million shares valued at $576.74 million. The investor’s holdings represent 9.8001 of the SNV Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 13.4 million shares valued at $538.45 million to account for 9.1495 of the shares outstanding. The other top investors are FMR LLC which holds 11.03 million shares representing 7.5311 and valued at over $443.21 million, while WELLINGTON MANAGEMENT GROUP LLP holds 5.8585 of the shares totaling 8.58 million with a market value of $344.78 million.
Synovus Financial Corp (SNV) Insider Activity
The most recent transaction is an insider purchase by Dierdorff Thomas T, the company’s EVP, Corp. & Inv. Banking. SEC filings show that Dierdorff Thomas T bought 1,841 shares of the company’s common stock on Oct 22 ’24 at a price of $48.86 per share for a total of $89951.0. Following the purchase, the insider now owns 14833.0 shares.
Synovus Financial Corp disclosed in a document filed with the SEC on Oct 22 ’24 that Dierdorff Thomas T (EVP, Corp. & Inv. Banking) sold a total of 1,841 shares of the company’s common stock. The trade occurred on Oct 22 ’24 and was made at $48.80 per share for $89841.0. Following the transaction, the insider now directly holds 12992.0 shares of the SNV stock.
Still, SEC filings show that on Oct 22 ’24, Dierdorff Thomas T (Officer) Proposed Sale 1,841 shares at an average price of $48.80 for $89841.0. The insider now directly holds shares of Synovus Financial Corp (SNV).
