Home  »  Company   »  After Plunging -21.27% During Past Week, Is Synovu...

After Plunging -21.27% During Past Week, Is Synovus Financial Corp. (NYSE: SNV) Still A Buy?

Synovus Financial Corp. (NYSE:SNV)’s traded shares stood at 5.42 million during the last session, with the company’s beta value hitting 1.41. At the close of trading, the stock’s price was $27.32, to imply a decrease of -8.57% or -$2.56 in intraday trading. The SNV share’s 52-week high remains $52.22, putting it -91.14% down since that peak but still an impressive -0.95% since price per share fell to its 52-week low of $27.58. The company has a valuation of $4.11B, with an average of 3.05 million shares in intraday trading volume over the past 10 days and average of 1.43 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Synovus Financial Corp. (SNV), translating to a mean rating of 2.10. Of 16 analyst(s) looking at the stock, 0 analyst(s) give SNV a Sell rating. 2 of those analysts rate the stock as Overweight while 4 advise Hold as 10 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.27.

Do You Know The Best Place To Find Gains In Volatile Markets?

In today's chaotic marketplace, the biggest gains will come from some currently-small companies that pass by older, larger businesses still stuck in a pre-pandemic world. The trick is figuring out which small caps will be tomorrow's winners. That's why StockWire News has put together a special Wealth Building Report, highlighting 3 small cap stocks set to soar in 2023.

Click here for full details and to join for free.


Synovus Financial Corp. (NYSE:SNV) trade information

After registering a -8.57% downside in the last session, Synovus Financial Corp. (SNV) has traded red over the past five days. The stock hit a weekly high of 35.77 this Friday, 03/17/23, dropping -8.57% in its intraday price action. The 5-day price performance for the stock is -21.27%, and -37.58% over 30 days. With these gigs, the year-to-date price performance is -27.24%. Short interest in Synovus Financial Corp. (NYSE:SNV) saw shorts transact 4.44 million shares and set a 3.65 days time to cover.

Analysts on Wall Street suggest a consensus price target of $46.25, implying an increase of 40.93% to the stock’s current value. The extremes give us $33.00 and $55.00 for target low and target high price respectively. As such, SNV has been trading -101.32% off suggested target high and -20.79% from its likely low.

Synovus Financial Corp. (SNV) estimates and forecasts

Looking at statistics comparing Synovus Financial Corp. share performance against respective industry, we note that the company has outperformed competitors. Synovus Financial Corp. (SNV) shares are -32.17% down over the last 6 months, with its year-to-date growth rate higher than industry average at 4.84% against 3.50%. Revenue is forecast to grow 17.60% this quarter before jumping 8.50% for the next one. The rating firms project that company’s revenue will grow 10.80% compared to the previous financial year.

Revenue forecast for the current quarter as set by 10 analysts is $599.93 million. Meanwhile, for the quarter ending Jun 2023, a total of 10 analyst(s) estimate revenue growth to $603.88 million.Earnings reports from the last fiscal year show that sales brought in $497.58 million and $522.65 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 20.60% before jumping 15.50% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 14.10% for the past 5-year period. While 2023 is set for a 1.00% return in earnings, projections for the next 5 years are at 8.00% annually.

SNV Dividends

Synovus Financial Corp. has its next earnings report out between April 19 and April 24. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Synovus Financial Corp. has a forward dividend ratio of 1.52, with the share yield ticking at 5.56% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Synovus Financial Corp. (NYSE:SNV)’s Major holders

Synovus Financial Corp. insiders hold 1.37% of total outstanding shares, with institutional holders owning 80.72% of the shares at 81.84% float percentage. In total, 80.72% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 15.0 million shares (or 10.31% of shares), all amounting to roughly $562.54 million.

The next major institution holding the largest number of shares is Blackrock Inc. with 13.29 million shares, or about 9.13% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $498.35 million.

We also have iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Synovus Financial Corp. (SNV) shares. Going by data provided on Dec 30, 2022, iShares Core S&P Midcap ETF holds roughly 4.49 million shares. This is just over 3.09% of the total shares, with a market valuation of $168.61 million. Data from the same date shows that the other fund manager holds a little less at 4.11 million, or 2.83% of the shares, all valued at about 154.23 million.

Leave a Comment

Your email address will not be published. Required fields are marked *

On Key

Related Posts