Synovus Financial (SNV) has risen sharply, recording gains of 3.83% in the past 4 weeks. However, the stock has corrected -1.92% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.77% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.48% and the 50-Day Moving Average is 3.69%. Synovus Financial (NYSE:SNV): On Fridays trading session , Opening price of the stock was $30.99 with an intraday high of $31.21. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $30.87. However, the stock managed to close at $31.21, a loss of 0.48% for the day. On the previous day, the stock had closed at $31.36. The total traded volume of the day was 560,112 shares.
The company Insiders own 1.3% of Synovus Financial shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.71% . Institutional Investors own 77.75% of Synovus Financial shares. During last six month period, the net percent change held by insiders has seen a change of -11.2%. Also, In a research note released to the investors, Barclays maintains its rating on Synovus Financial (NYSE:SNV).The analysts at the brokerage house have a current rating of Underweight on the shares. In a recent information released to the investors, Barclays raises the new price target from $29 per share to $31 per share. The rating by the firm was issued on July 20, 2016.
Synovus Financial Corp. (Synovus) is a financial services and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its customers through 28 locally branded banking divisions of its wholly owned subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee. Its retail banking services include accepting customary types of demand and savings deposits; mortgage, installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services, and bank credit card services, including MasterCard and Visa services. The Companys commercial banking services include cash management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans.