Top investors say Synovus Financial Corp. (SNV) ticks everything they need

Synovus Financial Corp. (NYSE: SNV) stock fell -0.92% on Friday to $39.63 against a previous-day closing price of $40.00. With 1.14 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.86 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $40.78 whereas the lowest price it dropped to was $39.62. The 52-week range on SNV shows that it touched its highest point at $54.40 and its lowest point at $34.15 during that stretch. It currently has a 1-year price target of $49.15. With its current market cap of 5.94 billion, SNV has annualized dividend of $1.36 while the current yield stands at 3.43%. Beta for the stock currently stands at 1.42.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SNV was up-trending over the past week, with a rise of 0.46%, but this was down by -5.80% over a month. Three-month performance surged to 9.84% while six-month performance fell -22.20%. The stock gained 1.80% in the past year, while it has lost -17.21% so far this year. A look at the trailing 12-month EPS for SNV yields 4.79 with Next year EPS estimates of 5.40. For the next quarter, that number is 1.28. This implies an EPS growth rate of 114.90% for this year and 11.39% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 21.00%.

Float and Shares Shorts:

At present, 145.33 million SNV shares are outstanding with a float of 143.38 million shares on hand for trading. On Aug 30, 2022, short shares totaled 4.04 million, which was 2.78% higher than short shares on Jul 28, 2022. In addition to Mr. Kessel D. Stelling Jr. as the firm’s Exec. Chairman, Mr. Kevin S. Blair serves as its CEO, Pres & Exec. Director.

Institutional Ownership:

Through their ownership of 82.32% of SNV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.25% of SNV, in contrast to 36.69% held by mutual funds. Shares owned by individuals account for 1.35%. As the largest shareholder in SNV with 10.06% of the stake, The Vanguard Group, Inc. holds 14,626,115 shares worth 14,626,115. A second-largest stockholder of SNV, BlackRock Fund Advisors, holds 11,802,078 shares, controlling over 8.12% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in SNV, holding 9,707,150 shares or 6.68% stake. With a 2.94% stake in SNV, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 4,267,085 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.81% of SNV stock, is the second-largest Mutual Fund holder. It holds 4,082,613 shares valued at 163.96 million. Vanguard Small Cap Index Fund holds 2.41% of the stake in SNV, owning 3,497,558 shares worth 140.46 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. It generated $178.05M net income for the quarter, which came to $736.26M over the last twelve months.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SNV since 14 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SNV analysts setting a high price target of $60.00 and a low target of $44.00, the average target price over the next 12 months is $49.15. Based on these targets, SNV could surge 51.4% to reach the target high and rise by 11.03% to reach the target low. Reaching the average price target will result in a growth of 24.02% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SNV will report FY 2022 earnings on 01/17/2023. Analysts have provided yearly estimates in a range of $4.93 being high and $4.73 being low. For SNV, this leads to a yearly average estimate of $4.85. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Synovus Financial Corp. surprised analysts by $0.08 when it reported $1.17 EPS against a consensus estimate of $1.09. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is $1.34 and the low estimate is $1.22. The average estimate for the next quarter is thus $1.28.

Summary of Insider Activity:

Insiders traded SNV stock several times over the past three months with 10 Buys and 2 Sells. In these transactions, 33,748 shares were bought while 1,529 shares were sold. The number of buy transactions has increased to 73 while that of sell transactions has risen to 60 over the past year. The total number of shares bought during that period was 244,984 while 455,941 shares were sold.

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