Citigroup has recently initiated Synovus Financial Corp (SNV) stock to Buy rating, as announced on October 10, 2024, according to Finviz. Earlier, on October 1, 2024, Wells Fargo had reduced the stock from a Overweight to Equal Weight, setting a price target of $46 for SNV stock. Raymond James also raised Outperform rating with a price target of $49. Additionally, Barclays raised Overweight rating on June 24, 2024, with a target price of $46. Keefe Bruyette analysts, in their report published on April 19, 2024, also reduced Mkt Perform rating and set a price target of $46 for Synovus Financial Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Synovus Financial Corp (SNV) Stock Trading Recap
On Wednesday, Synovus Financial Corp (SNV) stock saw a modest uptick, ending the day at $50.49 which represents a slight increase of $0.67 or 1.34% from the prior close of $49.82. The stock opened at $49.83 and touched a low of $49.79 during the day, reaching a high of $51.52. The volume of shares traded was 1.12 million falling short of the average volume of 1.36 million.
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SNV Stock Performance and Moving Averages
In recent trading, Synovus Financial Corp (SNV) stock price has shown some volatility, fluctuating 3.04% over the last five trades and 18.83% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 38.71%, and it has gained 13.69% in the previous three months. Currently, SNV is trading at 6.87%, 10.95%, and 23.99% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, SNV, a Financial sector stock, is trading -2.32% below its 52-week high but remains 101.16% above its 52-week low. The Average True Range (ATR) (14 days) of 1.35 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Synovus Financial Corp’s Profitability and Valuation Ratios
Synovus Financial Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 13.61% and a profit margin of 9.59%, with a gross margin of 38.71%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Synovus Financial Corp’s market capitalization stands at $7.27 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 22.84, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 10.95. Additionally, the Price-to-Sales Ratio is 2.17, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.49, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.60% of Synovus Financial Corp (SNV)’s shares, while financial institutions hold 86.35%.
Notable insider trades include Samaha Eli, 10% Owner at Synovus Financial Corp (SNV), who sold 172889 shares on Jun 10 ’24, at $25.2 each, totaling $4.36 million. On Jun 07 ’24, AKINS D WAYNE JR, EVP, Chief Comm Banking Off., sold 20000 shares for $37.38 each, amounting to $0.75 million. Additionally, on May 31 ’24, Samaha Eli sold 200000 shares at $25.07 each, generating $5.01 million.
