Synovus Financial Corp. [SNV] Stock trading around $44.14 per share: What’s Next?

Synovus Financial Corp. [NYSE: SNV] price plunged by -0.83 percent to reach at -$0.37. The company report on June 22, 2021 that Synovus to Announce Second Quarter 2021 Results on July 20, 2021.

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Synovus Financial Corp. (NYSE: SNV) will announce second quarter 2021 results on Tuesday, July 20, 2021. An earnings press release will be published prior to the earnings conference call, which will begin at 8:30 a.m. ET.

A live audio webcast and slides will be available with the press release and tables at http://investor.synovus.com/event. A replay will be posted on the company’s website approximately one hour after the call ends and will be available with the press release and slides for 12 months.

A sum of 632912 shares traded at recent session while its average daily volume was at 856.41K shares. Synovus Financial Corp. shares reached a high of $44.41 and dropped to a low of $43.67 until finishing in the latest session at $44.14.

The one-year SNV stock forecast points to a potential upside of 17.65. The average equity rating for SNV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Synovus Financial Corp. [SNV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNV shares is $53.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Seaport Global Securities have made an estimate for Synovus Financial Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 24, 2021. The new note on the price target was released on January 07, 2021, representing the official price target for Synovus Financial Corp. stock. Previously, the target price had yet another raise from $28 to $40, while RBC Capital Mkts kept a Outperform rating on SNV stock.

The Average True Range (ATR) for Synovus Financial Corp. is set at 1.32, with the Price to Sales ratio for SNV stock in the period of the last 12 months amounting to 3.82. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 22.21.

SNV Stock Performance Analysis:

Synovus Financial Corp. [SNV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.17. With this latest performance, SNV shares dropped by -9.77% in over the last four-week period, additionally plugging by 36.36% over the last 6 months – not to mention a rise of 128.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNV stock in for the last two-week period is set at 41.33, with the RSI for the last a single of trading hit 40.51, and the three-weeks RSI is set at 43.00 for Synovus Financial Corp. [SNV]. The present Moving Average for the last 50 days of trading for this stock 47.20, while it was recorded at 44.11 for the last single week of trading, and 38.32 for the last 200 days.

Insight into Synovus Financial Corp. Fundamentals:

SNV Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Synovus Financial Corp. go to 8.00%.

Synovus Financial Corp. [SNV] Insider Position Details

There are presently around $5,113 million, or 79.30% of SNV stock, in the hands of institutional investors. The top three institutional holders of SNV stocks are: BLACKROCK INC. with ownership of 13,638,864, which is approximately 3.519% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 13,361,014 shares of the stock with an approximate value of $589.75 million in SNV stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $375.49 million in SNV stock with ownership of nearly -4.733% of the company’s market capitalization.

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175 institutional holders increased their position in Synovus Financial Corp. [NYSE:SNV] by around 10,436,335 shares. Additionally, 189 investors decreased positions by around 8,477,738 shares, while 67 investors held positions by with 96,921,427 shares. The mentioned changes placed institutional holdings at 115,835,500 shares, according to the latest SEC report filing. SNV stock had 69 new institutional investments in for a total of 2,352,701 shares, while 51 institutional investors sold positions of 1,880,927 shares during the same period.

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