Synovus Financial Corp. (SNV) Surges to 52-Week High, Is Now Top Performer

May 17, 2018 - By Tina Thibodeau

Synovus Financial Corp. (NYSE:SNV) Logo

Investors sentiment increased to Infinity in Q4 2017. 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 Invest has 12,263 shares for 0.02% of their portfolio. Rech And owns 0.18% invested in Synovus Financial Corp. (NYSE:SNV) for 22,600 shares.

Since December 8, 2017, it had 0 buys, and 3 insider sales for $425,198 activity. Shares for $51,359 were sold by TOMLINSON PHILIP W on Friday, December 8. On Thursday, February 1 Gula Allen J sold $123,039 worth of Synovus Financial Corp. (NYSE:SNV) or 2,450 shares.

The stock of Synovus Financial Corp. (NYSE:SNV) hit a new 52-week high and has $58.83 target or 8.00 % above today’s $54.47 share price. The 5 months bullish chart indicates low risk for the $6.46 billion company. The 1-year high was reported on May, 17 by Barchart.com. If the $58.83 price target is reached, the company will be worth $516.96 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 increased 0.54% or $0.29 during the last trading session, reaching $54.47. About 507,034 shares traded. Synovus Financial Corp. (NYSE:SNV) has risen 23.40% since May 17, 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 earnings per share, up 46.67 % or $0.28 from last year’s $0.6 per share. SNV’s profit will be $104.40M for 15.47 P/E if the $0.88 EPS becomes a reality. After $0.86 actual earnings per share 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 stock has “Market Perform” rating by Wells Fargo on Wednesday, April 25. The stock of Synovus Financial Corp. (NYSE:SNV) has “Hold” rating given on Tuesday, January 23 by Hovde Group. The firm earned “Equal-Weight” rating on Wednesday, April 25 by Barclays Capital. The rating was maintained by Sandler O’Neill on Tuesday, April 24 with “Buy”. The rating was maintained by Robert W. Baird on Tuesday, April 24 with “Hold”. On Tuesday, January 2 the stock rating was maintained by Barclays Capital with “Hold”. On Tuesday, January 2 the stock rating was maintained by Robert W. Baird with “Hold”. The rating was maintained by Bank of America on Wednesday, January 24 with “Buy”. Morgan Stanley upgraded the stock to “Equal-Weight” rating in Wednesday, March 7 report. The rating was maintained by SunTrust with “Buy” on Monday, January 8.

More recent Synovus Financial Corp. (NYSE:SNV) news were published by: Seekingalpha.com which released: “Synovus Financial’s (SNV) CEO Kessel Stelling on Q1 2018 Results – Earnings Call Transcript” on April 24, 2018. Also Bizjournals.com published the news titled: “Coke, Synovus, Schwab to put names on Georgia university campuses” on May 14, 2018. Globenewswire.com‘s news article titled: “Factors of Influence in 2018, Key Indicators and Opportunity within Cognex, MRC Global, Fulton Financial, Synovus …” with publication date: May 14, 2018 was also an interesting one.

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 $6.46 billion. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. It has a 25.1 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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