Market Analysts see Synovus Financial Corp. [SNV] gaining to $44. Time to buy?

Synovus Financial Corp. [NYSE: SNV] loss -9.48% on the last trading session, reaching $31.41 price per share at the time. The company report on March 2, 2023 that Synovus announces quarterly dividends.

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The board of directors of Synovus Financial Corp. (NYSE: SNV) has declared the following quarterly dividends:.

$0.38 per share on the company’s common stock, payable on April 3, 2023, to shareholders of record as of March 16, 2023.

Synovus Financial Corp. represents 145.47 million in outstanding shares, while the company has a total market value of $4.72 billion with the latest information. SNV stock price has been found in the range of $27.90 to $32.83.

If compared to the average trading volume of 1.19M shares, SNV reached a trading volume of 7791654 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $47.25 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 2.10. 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.

Morgan Stanley have made an estimate for Synovus Financial Corp. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on December 05, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $53 to $56. The new note on the price target was released on December 15, 2021, representing the official price target for Synovus Financial Corp. stock. Previously, the target price had yet another raise to $53, while Seaport Global Securities analysts kept a Buy rating on SNV stock.

The Average True Range (ATR) for Synovus Financial Corp. is set at 1.72, with the Price to Sales ratio for SNV stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 13.15. Price to Free Cash Flow for SNV in the course of the last twelve months was 4.89.

Trading performance analysis for SNV stock

Synovus Financial Corp. [SNV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.28. With this latest performance, SNV shares dropped by -27.33% in over the last four-week period, additionally sinking by -24.37% over the last 6 months – not to mention a drop of -33.83% 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 16.45, with the RSI for the last a single of trading hit 9.32, and the three-weeks RSI is set at 23.32 for Synovus Financial Corp. [SNV]. The present Moving Average for the last 50 days of trading for this stock 40.38, while it was recorded at 35.95 for the last single week of trading, and 39.76 for the last 200 days.

Synovus Financial Corp. [SNV]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Synovus Financial Corp. [SNV] shares currently have an operating margin of +38.43. Synovus Financial Corp.’s Net Margin is presently recorded at +30.49.

Return on Equity for this stock inclined to 15.51, with Return on Assets sitting at 1.29.

Synovus Financial Corp. [SNV]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Synovus Financial Corp. [SNV]

There are presently around $3,715 million, or 82.30% of SNV stock, in the hands of institutional investors. The top three institutional holders of SNV stocks are: VANGUARD GROUP INC with ownership of 15,356,589, which is approximately 2.398% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 13,869,725 shares of the stock with an approximate value of $435.65 million in SNV stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $313.54 million in SNV stock with ownership of nearly -11.748% of the company’s market capitalization.

Positions in Synovus Financial Corp. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 206 institutional holders increased their position in Synovus Financial Corp. [NYSE:SNV] by around 10,577,259 shares. Additionally, 186 investors decreased positions by around 10,610,317 shares, while 77 investors held positions by with 97,098,526 shares. The mentioned changes placed institutional holdings at 118,286,102 shares, according to the latest SEC report filing. SNV stock had 65 new institutional investments in for a total of 3,515,722 shares, while 51 institutional investors sold positions of 4,130,722 shares during the same period.


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