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Taking a look at what insiders are doing to gauge the Synovus Financial Corp. (SNV)’s direction

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 $0.2 million following the completion of this transaction.

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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 $0.44 million.

As published in a research note from Keefe Bruyette on April 19, 2024, Synovus Financial Corp. [SNV] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $38 from $46. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid April. As of March 08, 2024, Barclays has initiated its “an Equal weight” rating for SNV. Earlier on January 08, 2024, UBS upgraded its rating. Their new recommendation was “a Buy” for SNV stock which previously was a “a Neutral”.

Analyzing SNV Stock Performance

During the last five days, there has been a surge of approximately 5.60%. Over the course of the year, Synovus Financial Corp. shares have jumped approximately 5.21%. Shares of the company reached a 52-week high of $40.63 on 03/07/24 and a 52-week low of $33.44 on 04/19/24. A 50-day SMA is recorded $37.98, while a 200-day SMA reached $33.78. Nevertheless, trading volume fell to 1.37 million shares from 0.85 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 39.14, which, if violated, would cause prices to drop to 38.67. In the upper region, resistance lies at 39.87. The next price resistance is at 40.14. RSI (Relative Strength Index) is 63.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.70, which suggests the price will increase in the coming days. Percent R is at 1.10%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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