Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Synovus Financial Corp shares valued at $89,951 were purchased by Dierdorff Thomas T on Oct 22 ’24. At $48.86 per share, Dierdorff Thomas T acquired 1,841 shares. The insider’s holdings grew to 14,833 shares worth approximately $0.84 million following the completion of this transaction.
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Also, Dierdorff Thomas T sold 1,841 shares, netting a total of over 89,841 in proceeds. Following the sale of shares at $48.80 each, the insider now holds 12,992 shares.
Before that, Dierdorff Thomas T had added 1,841 shares to its account. In a trade valued at $89,841, the Officer bought Synovus Financial Corp shares for $48.80 each.
As published in their initiating research note from Citigroup on October 10, 2024, Synovus Financial Corp [SNV] has been a Buy and the price target has been revised to $53. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early October. As of September 17, 2024, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for SNV. Earlier on June 24, 2024, Barclays upgraded its rating. Their new recommendation was “an Overweight” for SNV stock which previously was a “an Equal weight”.
Analyzing SNV Stock Performance
During the last five days, there has been a drop of approximately -2.91%. Over the course of the year, Synovus Financial Corp shares have jumped approximately 50.78%. Shares of the company reached a 52-week high of $59.79 on 11/11/24 and a 52-week low of $33.44 on 04/19/24. A 50-day SMA is recorded $47.33, while a 200-day SMA reached $41.53. Nevertheless, trading volume fell to 1.16 million shares from 1.0 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 55.98, which, if violated, would cause prices to drop to 55.20. In the upper region, resistance lies at 58.31. The next price resistance is at 59.86. RSI (Relative Strength Index) is 66.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.93, which suggests the price will increase in the coming days. Percent R is at 26.15%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
