Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Synovus Financial Corp. shares valued at $4,357,321 were sold by Samaha Eli on Jun 10 ’24. At $25.20 per share, Samaha Eli sold 172,889 shares. The insider’s holdings dropped to 1,293,259 shares worth approximately $60.5 million following the completion of this transaction.
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Also, AKINS D WAYNE JR purchased 24,500 shares, netting a total of over 916,300 in proceeds. Following the buying of shares at $37.40 each, the insider now holds 41,884 shares.
Before that, AKINS D WAYNE JR had sold 20,000 shares from its account. In a trade valued at $747,600, the EVP, Chief Comm Banking Off. traded Synovus Financial Corp. shares for $37.38 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $0.81 million.
As published in a research note from Barclays on June 24, 2024, Synovus Financial Corp. [SNV] has been rated up from an Equal weight to an Overweight and the price target has been revised to $46 from $39. Analysts at Keefe Bruyette downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid April. As of April 18, 2024, Raymond James has decreased its “Strong buy” rating to a “Mkt perform” for SNV. Earlier on March 08, 2024, Barclays initiated its rating. Their recommendation was “an Equal weight” for SNV stock.
Analyzing SNV Stock Performance
During the last five days, there has been a surge of approximately 3.98%. Over the course of the year, Synovus Financial Corp. shares have jumped approximately 24.25%. Shares of the company reached a 52-week high of $47.76 on 07/18/24 and a 52-week low of $33.44 on 04/19/24. A 50-day SMA is recorded $40.04, while a 200-day SMA reached $36.25. Nevertheless, trading volume fell to 1.42 million shares from 1.17 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 46.00, which, if violated, would cause prices to drop to 45.23. In the upper region, resistance lies at 47.33. The next price resistance is at 47.89. RSI (Relative Strength Index) is 75.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.46, which suggests the price will increase in the coming days. Percent R is at 11.07%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
