Synovus Financial Corp. (NYSE: SNV)’s stock price has plunge by 0.45relation to previous closing price of 48.87. Nevertheless, the company has seen a 3.74% surge in its stock price over the last five trading sessions. businesswire.com reported 2024-10-18 that COLUMBUS, Ga.–(BUSINESS WIRE)–Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair and Executive Vice President and Chief Financial Officer Jamie Gregory will participate in a fireside chat at the BancAnalysts Association of Boston Conference on Nov. 7, 2024, at 12:45 p.m. ET. A live webcast and replay will be available at https://investor.synovus.com/events. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billi.
Is It Worth Investing in Synovus Financial Corp. (NYSE: SNV) Right Now?
Synovus Financial Corp. (NYSE: SNV) has a higher price-to-earnings ratio of 22.21x compared to its average ratio, The 36-month beta value for SNV is at 1.41. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 13 as “hold,” and 1 as “sell.”
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The public float for SNV is 143.10M, and currently, shorts hold a 3.09% of that float. The average trading volume for SNV on October 23, 2024 was 1.36M shares.
SNV’s Market Performance
SNV stock saw an increase of 3.74% in the past week, with a monthly gain of 10.24% and a quarterly increase of 7.14%. The volatility ratio for the week is 2.99%, and the volatility levels for the last 30 days are 2.58% for Synovus Financial Corp. (SNV). The simple moving average for the last 20 days is 8.10% for SNV stock, with a simple moving average of 21.72% for the last 200 days.
Analysts’ Opinion of SNV
Many brokerage firms have already submitted their reports for SNV stocks, with Citigroup repeating the rating for SNV by listing it as a “Buy.” The predicted price for SNV in the upcoming period, according to Citigroup is $53 based on the research report published on October 10, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see SNV reach a price target of $46, previously predicting the price at $48. The rating they have provided for SNV stocks is “Equal Weight” according to the report published on October 01st, 2024.
Raymond James gave a rating of “Outperform” to SNV, setting the target price at $49 in the report published on September 17th of the current year.
SNV Trading at 9.81% from the 50-Day Moving Average
After a stumble in the market that brought SNV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.03% of loss for the given period.
Volatility was left at 2.58%, however, over the last 30 days, the volatility rate increased by 2.99%, as shares surge +12.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.92% upper at present.
During the last 5 trading sessions, SNV rose by +3.74%, which changed the moving average for the period of 200-days by +32.78% in comparison to the 20-day moving average, which settled at $45.41. In addition, Synovus Financial Corp. saw 30.39% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SNV starting from Dierdorff Thomas T, who proposed sale 1,841 shares at the price of $48.80 back on Oct 22 ’24. After this action, Dierdorff Thomas T now owns shares of Synovus Financial Corp., valued at $89,841 using the latest closing price.
Dierdorff Thomas T, the EVP, Corp. & Inv. Banking of Synovus Financial Corp., sale 614 shares at $46.20 during a trade that took place back on Jul 24 ’24, which means that Dierdorff Thomas T is holding 14,833 shares at $28,367 based on the most recent closing price.
Stock Fundamentals for SNV
Current profitability levels for the company are sitting at:
- 0.19 for the present operating margin
- 0.92 for the gross margin
The net margin for Synovus Financial Corp. stands at 0.12. The total capital return value is set at 0.02. Equity return is now at value 7.33, with 0.61 for asset returns.
Based on Synovus Financial Corp. (SNV), the company’s capital structure generated 0.28 points at debt to capital in total, while cash flow to debt ratio is standing at 0.44. The debt to equity ratio resting at 0.39. The interest coverage ratio of the stock is 0.7.
Currently, EBITDA for the company is 2.69 billion with net debt to EBITDA at 6.28. When we switch over and look at the enterprise to sales, we see a ratio of 3.11. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.07.
Conclusion
In conclusion, Synovus Financial Corp. (SNV) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
