In Monday’s session, Synovus Financial Corp. (NYSE:SNV) marked $29.90 per share, down from $30.83 in the previous session. While Synovus Financial Corp. has underperformed by -3.02%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SNV fell by -38.98%, with highs and lows ranging from $50.23 to $27.08, whereas the simple moving average fell by -23.31% in the last 200 days.
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On March 15, 2023, UBS started tracking Synovus Financial Corp. (NYSE: SNV) recommending Neutral. A report published by Morgan Stanley on December 05, 2022, Initiated its previous ‘Equal-Weight’ rating for SNV. JP Morgan also Upgraded SNV shares as ‘Overweight’, setting a target price of $56 on the company’s shares in a report dated December 15, 2021. Seaport Global Securities Initiated an Buy rating on March 24, 2021, and assigned a price target of $53. Jefferies January 07, 2021d its ‘Hold’ rating to ‘Buy’ for SNV, as published in its report on January 07, 2021. RBC Capital Mkts’s report from December 11, 2020 suggests a price prediction of $40 for SNV shares, giving the stock a ‘Outperform’ rating. Janney also rated the stock as ‘Neutral’.
Analysis of Synovus Financial Corp. (SNV)
With SNV’s current dividend of $1.52 per share, investors can expect to earn a return regardless of performance. Further, the quarter-over-quarter increase in sales is 56.50%, showing a positive trend in the upcoming months.
Synovus Financial Corp.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 18.20% is sufficient for you to turn a profit off your investment.
The average volume for any stock is also a very valuable indicator of volatility, and SNV has an average volume of 1.71M. On a monthly basis, the volatility of the stock is set at 6.69%, whereas on a weekly basis, it is put at 3.27%, with a loss of -0.50% over the past seven days. Furthermore, long-term investors anticipate a median target price of $43.83, showing growth from the present price of $29.90, which can serve as yet another indication of whether SNV is worth investing in or should be passed over.
How Do You Analyze Synovus Financial Corp. Shares?
Banks – Regional giant Synovus Financial Corp. (SNV) is based in the USA and is one of the largest companies in the market. When comparing Synovus Financial Corp. shares with other companies under Financial, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 6.04, there is a growth in quarterly earnings of 3.00%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 82.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SNV shares?
The recent increase in stakes in SNV appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in SNV has increased by 2.38% in the first quarter. The company now owns 15,146,764 shares of the stock, with a value of $633.29 million, following the purchase of 352,420 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in SNV during the first quarter, upping its stake by 5.04%. During the last quarter, the company dropped down 595,292 additional shares for a total stake of worth $518.33 million, bringing number of shares owned by the company to 12,397,370.
During the first quarter, Wellington Management Co. LLP subtracted a -1,328,785 position in SNV. SSgA Funds Management, Inc. sold an additional 61627.0 shares in the last quarter, decreasing its holdings by -1.02%, now holding 6.0 million shares worth $250.72 million. At the end of the first quarter, Synovus Trust Co. NA decreased its SNV holdings by -0.83% and now holds 5.63 million SNV shares valued at $235.4 million with the lessened 46894.0 shares during the period. SNV shares are owned by institutional investors to the tune of 82.30% at present.
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