Synovus Financial Corp. (SNV) Formed a Bullish Double Top, Could Be One of The Best Performers Soon

June 20, 2017 - By Peter Erickson

The chart of Synovus Financial Corp. (SNV) shows a double top with $46.70 target or 8.00 % above today’s $43.24 share price. The 7 months chart pattern indicates low risk for the $5.30 billion company. It was reported on Jun, 20 by Finviz.com. If the $46.70 price target is reached, the company will be worth $424.00 million more. Double tops are rare but powerful chart patterns.

About 31,502 shares traded. Synovus Financial Corp. (NYSE:SNV) has risen 33.10% since June 20, 2016 and is uptrending. It has outperformed by 16.40% the S&P500.

Analysts await Synovus Financial Corp. (NYSE:SNV) to report earnings on July, 18. They expect $0.59 earnings per share, up 20.41 % or $0.10 from last year’s $0.49 per share. SNV’s profit will be $72.32 million for 18.32 P/E if the $0.59 EPS becomes a reality. After $0.57 actual earnings per share reported by Synovus Financial Corp. for the previous quarter, Wall Street now forecasts 3.51 % EPS growth.

Synovus Financial Corp. (NYSE:SNV) Ratings Coverage

Among 15 analysts covering Synovus Financial Corp. (NYSE:SNV), 5 have Buy rating, 1 Sell and 9 Hold. Therefore 33% are positive. Synovus Financial Corp. had 25 analyst reports since July 22, 2015 according to SRatingsIntel. Morgan Stanley downgraded Synovus Financial Corp. (NYSE:SNV) on Thursday, February 11 to “Underperform” rating. The firm has “Neutral” rating by Compass Point given on Friday, November 18. As per Friday, October 9, the company rating was maintained by Barclays Capital. The stock has “Market Perform” rating by Hovde Group on Monday, January 9. Bank of America downgraded Synovus Financial Corp. (NYSE:SNV) on Wednesday, June 29 to “Neutral” rating. Hovde Group maintained Synovus Financial Corp. (NYSE:SNV) on Friday, August 19 with “Outperform” rating. The firm has “Market Perform” rating given on Monday, January 9 by Wells Fargo. The rating was downgraded by Keefe Bruyette & Woods to “Mkt Perform” on Tuesday, November 29. The stock has “Mkt Perform” rating by JMP Securities on Thursday, February 2. The stock of Synovus Financial Corp. (NYSE:SNV) earned “Equal Weight” rating by Barclays Capital on Tuesday, December 6.

Another recent and important Synovus Financial Corp. (NYSE:SNV) news was published by Nasdaq.com which published an article titled: “Synovus Financial Corp. (SNV) Ex-Dividend Date Scheduled for June 13, 2017” on June 12, 2017.

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