What’s Synovus Financial Corp. (SNV) Upside After Touching 52-Week High?

May 23, 2018 - By Peter Erickson

Synovus Financial Corp. (NYSE:SNV) Logo

Investors sentiment increased to Infinity in 2017 Q4. Its up Infinity, from 0 in 2017Q3. It improved, as 0 investors sold Synovus Financial Corp. shares while 0 reduced holdings. 1 funds opened positions while 1 raised stakes. 69,726 shares or 511.63% more from 11,400 shares in 2017Q3 were reported.
Kcm Inv Ltd Llc holds 0.02% in Synovus Financial Corp. (NYSE:SNV) or 12,263 shares. invested 0.18% of its portfolio in Synovus Financial Corp. (NYSE:SNV).

Since December 8, 2017, it had 0 insider purchases, and 4 sales for $533,918 activity. Shares for $250,800 were sold by HOLLADAY MARK G on Thursday, February 1. Another trade for 1,052 shares valued at $51,359 was made by TOMLINSON PHILIP W on Friday, December 8. Another trade for 2,450 shares valued at $123,039 was made by Gula Allen J on Thursday, February 1.

The stock of Synovus Financial Corp. (NYSE:SNV) hit a new 52-week high and has $58.44 target or 7.00 % above today’s $54.62 share price. The 6 months bullish chart indicates low risk for the $6.48 billion company. The 1-year high was reported on May, 23 by Barchart.com. If the $58.44 price target is reached, the company will be worth $453.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.49% or $0.27 during the last trading session, reaching $54.62. About 740,134 shares traded. Synovus Financial Corp. (NYSE:SNV) has risen 23.40% since May 23, 2017 and is uptrending. It has outperformed by 11.85% the S&P500.

Analysts await Synovus Financial Corp. (NYSE:SNV) to report earnings on July, 17. They expect $0.88 EPS, up 46.67 % or $0.28 from last year’s $0.6 per share. SNV’s profit will be $104.40M for 15.52 P/E if the $0.88 EPS becomes a reality. After $0.86 actual EPS reported by Synovus Financial Corp. for the previous quarter, Wall Street now forecasts 2.33 % EPS growth.

Synovus Financial Corp. (NYSE:SNV) Ratings Coverage

Among 14 analysts covering Synovus (NYSE:SNV), 5 have Buy rating, 0 Sell and 9 Hold. Therefore 36% are positive. Synovus had 23 analyst reports since November 28, 2017 according to SRatingsIntel. The firm has “Buy” rating by SunTrust given on Tuesday, November 28. The stock has “Buy” rating by Bank of America on Wednesday, January 24. As per Wednesday, January 24, the company rating was maintained by Barclays Capital. The stock of Synovus Financial Corp. (NYSE:SNV) has “Hold” rating given on Tuesday, January 23 by Hovde Group. The stock of Synovus Financial Corp. (NYSE:SNV) earned “Buy” rating by RBC Capital Markets on Tuesday, January 23. Robert W. Baird maintained Synovus Financial Corp. (NYSE:SNV) rating on Tuesday, April 24. Robert W. Baird has “Hold” rating and $5200 target. Barclays Capital maintained the shares of SNV in report on Tuesday, January 2 with “Hold” rating. The stock has “Market Perform” rating by Wells Fargo on Wednesday, April 25. The firm has “Buy” rating given on Wednesday, January 24 by Stephens. As per Wednesday, April 25, the company rating was maintained by Barclays Capital.

More important recent Synovus Financial Corp. (NYSE:SNV) news were published by: Bizjournals.com which released: “Coke, Synovus, Schwab to put names on Georgia university campuses” on May 14, 2018, also Globenewswire.com published article titled: “Factors of Influence in 2018, Key Indicators and Opportunity within Cognex, MRC Global, Fulton Financial, Synovus …”, Bizjournals.com published: “Gun-control advocates target Bank of America on Remington deal after Santa Fe shooting” on May 23, 2018. More interesting news about Synovus Financial Corp. (NYSE:SNV) was released by: Seekingalpha.com and their article: “Synovus Financial’s (SNV) CEO Kessel Stelling on Q1 2018 Results – Earnings Call Transcript” with publication date: April 24, 2018.

Synovus Financial Corp. operates as the bank holding firm for Synovus Bank that provides various financial services and products. The company has market cap of $6.48 billion. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. It has a 25.17 P/E ratio. The company's commercial banking services comprise cash management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.

Synovus Financial Corp. (NYSE:SNV) Ratings Chart

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