Synovus Financial Corp. [NYSE: SNV] slipped around -3.97 points on Thursday, while shares priced at $37.36 at the close of the session, down -9.61%. The company report on October 20, 2022 that Synovus Announces Earnings for the Third Quarter 2022.
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Diluted Earnings per Share of $1.33 vs. $1.21 in 3Q21.
Adjusted Diluted Earnings per Share of $1.34 vs. $1.20 in 3Q21.
Synovus Financial Corp. stock is now -21.96% down from its year-to-date (YTD) trading value. SNV Stock saw the intraday high of $40.83 and lowest of $36.91 per share. The company’s 52-week high price is 54.40, which means current price is +9.42% above from all time high which was touched on 02/16/22.
Compared to the average trading volume of 905.15K shares, SNV reached a trading volume of 3012658 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $49.50 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.
JP Morgan have made an estimate for Synovus Financial Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 15, 2021. While these analysts kept the previous recommendation, Seaport Global Securities raised their target price to Buy. The new note on the price target was released on March 24, 2021, representing the official price target for Synovus Financial Corp. stock. Previously, the target price had yet another raise to $40, while Jefferies analysts kept a Buy rating on SNV stock. On December 11, 2020, analysts increased their price target for SNV shares from 28 to 40.
The Average True Range (ATR) for Synovus Financial Corp. is set at 1.68, with the Price to Sales ratio for SNV stock in the period of the last 12 months amounting to 3.22. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 11.36. Price to Free Cash Flow for SNV in the course of the last twelve months was 15.66.
How has SNV stock performed recently?
Synovus Financial Corp. [SNV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.72. With this latest performance, SNV shares dropped by -5.73% in over the last four-week period, additionally sinking by -18.84% over the last 6 months – not to mention a drop of -24.37% 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 39.79, with the RSI for the last a single of trading hit 35.03, and the three-weeks RSI is set at 42.43 for Synovus Financial Corp. [SNV]. The present Moving Average for the last 50 days of trading for this stock 40.51, while it was recorded at 40.55 for the last single week of trading, and 43.54 for the last 200 days.
Synovus Financial Corp. [SNV]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Synovus Financial Corp. [SNV] shares currently have an operating margin of +47.35. Synovus Financial Corp.’s Net Margin is presently recorded at +36.12.
Return on Equity for this stock inclined to 14.54, with Return on Assets sitting at 1.36.
Earnings analysis for Synovus Financial Corp. [SNV]
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%.
Insider trade positions for Synovus Financial Corp. [SNV]
There are presently around $4,427 million, or 82.20% of SNV stock, in the hands of institutional investors. The top three institutional holders of SNV stocks are: VANGUARD GROUP INC with ownership of 14,826,622, which is approximately 1.293% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 13,193,521 shares of the stock with an approximate value of $492.91 million in SNV stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $362.66 million in SNV stock with ownership of nearly 3.776% of the company’s market capitalization.
Positions in Synovus Financial Corp. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 210 institutional holders increased their position in Synovus Financial Corp. [NYSE:SNV] by around 10,225,974 shares. Additionally, 195 investors decreased positions by around 5,348,550 shares, while 83 investors held positions by with 102,916,643 shares. The mentioned changes placed institutional holdings at 118,491,167 shares, according to the latest SEC report filing. SNV stock had 60 new institutional investments in for a total of 2,435,983 shares, while 72 institutional investors sold positions of 1,152,110 shares during the same period.