Synovus Financial (SNV) : Traders are bullish on Synovus Financial (SNV) as it has outperformed the S&P 500 by a wide margin of 4.55% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.91%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.88% in the last 1 week, and is up 4.95% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Synovus Financial Corporation is up 4.06% in the last 3-month period. Year-to-Date the stock performance stands at 0.93%. The stock has recorded a 20-day Moving Average of 4.19% and the 50-Day Moving Average is 7.75%.
Synovus Financial (NYSE:SNV): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.08 and $31.95 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.42, notching a gain of 0.62% for the day. The total traded volume was 983,362 . The stock had closed at $32.22 on the previous day.
Also, Barclays maintains their rating on the shares of Synovus Financial (NYSE:SNV). The current rating of the shares is Underweight. Equity Analysts at the Firm raises the price target to $31 per share from $29 per share. The rating by the firm was issued on July 20, 2016.
Synovus Financial Corp. (Synovus) is a financial services and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its customers through 28 locally branded banking divisions of its wholly owned subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee. Its retail banking services include accepting customary types of demand and savings deposits; mortgage, installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services, and bank credit card services, including MasterCard and Visa services. The Companys commercial banking services include cash management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans.