Synovus Financial Corp (SNV) Shares Soar 7.12% on Strong Q1 Earnings

Synovus Financial Corp (SNV) shares surged 7.12% today, reaching their highest level since March 2025 with an intraday gain of 8.25%.

Over the past five years, the strategy of purchasing SNV shares at a recent high and holding for one week yielded a consistent, if modest, return. The annualized return was approximately 10%, based on the calculation. This result suggests that this strategy, although not high-yielding, provided a stable appreciation over the specified time frame.

Synovus Financial Corp reported strong first-quarter 2025 results, with GAAP and adjusted earnings per share of $1.30, surpassing analysts' consensus estimates. This robust performance has likely contributed to the recent surge in the company's stock price, as investors respond positively to the better-than-expected financial results.

Shares of Synovus Financial crossed above their 200-day moving average of $48.60, reaching as high as $49.87. This technical indicator is typically seen as a bullish signal by investors, suggesting that the stock may continue to rise in the near future. The crossing of this key moving average has likely bolstered investor confidence in the company's prospects, contributing to the recent price appreciation.

Several brokerages have adjusted their price targets downward for Synovus Financial. For instance, Royal Bank of Canada reduced their price target from $64.00 to $52.00, and DA Davidson from $65.00 to $60.00. Despite these adjustments, the company maintains a consensus rating of “Moderate Buy” from eighteen ratings firms, indicating that analysts still view the stock as a potential investment opportunity.

There has been notable activity by institutional investors, with several increasing their stakes in Synovus Financial during the first quarter. This includes PNC Financial Services Group Inc. and LSV Asset Management, among others. The increased institutional ownership suggests that large investors are bullish on the company's prospects and are positioning themselves to benefit from its future growth.