Last Updated: 19 Sep 2024
Executive Summary
Synovus Financial Corp. (SNV) is a regional financial services company headquartered in Columbus, Georgia. The company has a market capitalization of $6.48 billion and trades on the NYSE. SNV reported revenue of $1.69 billion for the quarter ending June 30, 2024, a decrease of 0.47% year-over-year. Diluted EPS was $1.63, a decrease of 0.409% year-over-year. The company has a trailing P/E ratio of 27.63 and a forward P/E ratio of 10.02. Analysts have a consensus rating of "Buy" on SNV, with a target price of $50.15.
Company Overview
Synovus Financial Corp. operates as a financial holding company. The company provides a range of financial services, including banking, lending, and wealth management. Synovus operates in Georgia, Alabama, Florida, South Carolina, and Tennessee. The company has a long history of serving its communities, dating back to 1888.
Fundamental Analysis
Synovus Financial Corp.'s financial performance has been mixed in recent quarters. The company's revenue has declined slightly in recent quarters, while its expenses have increased. As a result, the company's net income has declined. However, the company's profitability remains strong, with a net profit margin of 16.5%.
The company's balance sheet is also strong. Synovus has a low level of debt and a high level of equity. The company's capital ratios are all well within regulatory limits.
Technical Analysis
The technical analysis of SNV's stock price shows that the stock is currently in a downtrend. The stock has been trading below its 50-day and 200-day moving averages for the past several months. The stock's relative strength index (RSI) is also below 50, indicating that the stock is oversold.
Short Term Outlook
The short-term outlook for SNV is mixed. The company's financial performance has been weak in recent quarters, and the stock price is in a downtrend. However, the company's balance sheet is strong, and the stock is trading at a discount to its peers. As a result, the stock could be a good value play for investors who are willing to take on some risk.
Long Term Outlook
The long-term outlook for SNV is positive. The company has a strong market position in its core markets, and it is well-positioned to benefit from the growth of the U.S. economy. The company's stock price is currently trading at a discount to its peers, and it could be a good long-term investment for investors who are looking for a value play.
Analyst Recommendations
Analysts have a consensus rating of "Buy" on SNV, with a target price of $50.15. This indicates that analysts believe that the stock is undervalued and has the potential to appreciate in the future.
