Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Synovus Financial Corp. shares valued at $179,298 were sold by Hurley Jill K on Feb 28 ’24. At $37.29 per share, Hurley Jill K sold 4,808 shares. The insider’s holdings dropped to 5,137 shares worth approximately $0.17 million following the completion of this transaction.
Also, Bentsen Tim E sold 4,671 shares, netting a total of over 180,394 in proceeds. Following the sale of shares at $38.62 each, the insider now holds 33,144 shares.
Before that, Dierdorff Thomas T had sold 2,045 shares from its account. In a trade valued at $78,180, the EVP, Corp. & Inv. Banking traded Synovus Financial Corp. shares for $38.23 each. Upon closing the transaction, the insider’s holdings decreased to 2,045 shares, worth approximately $0.38 million.
As published in a research note from Raymond James on April 18, 2024, Synovus Financial Corp. [SNV] has been rated down from a Strong buy to a Mkt perform. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early March. As of January 08, 2024, UBS has increased its “Neutral” rating to a “Buy” for SNV. Earlier on January 03, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for SNV stock which previously was a “an Outperform”.
Analyzing SNV Stock Performance
During the last five days, there has been a drop of approximately -8.82%. Over the course of the year, Synovus Financial Corp. shares have dropped approximately -9.96%. Shares of the company reached a 52-week high of $40.63 on 03/07/24 and a 52-week low of $33.50 on 04/18/24. A 50-day SMA is recorded $37.80, while a 200-day SMA reached $33.42. Nevertheless, trading volume fell to 5.76 million shares from 1.81 million shares the previous day.
Support And Resistance Levels for Synovus Financial Corp. (SNV)
According to the 24-hour chart, there is a support level at 33.30, which, if violated, would cause prices to drop to 32.70. In the upper region, resistance lies at 34.70. The next price resistance is at 35.49. RSI (Relative Strength Index) is 26.01 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.77, which suggests the price will decrease in the coming days. Percent R is at 94.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
