Yahoo Finance Insider Buying: EVP & CFO GREGORY ANDREW J. JR. ...
On May 21, 2024, GREGORY ANDREW J. JR., Executive Vice President and Chief Financial Officer, purchased 28,000 shares of Synovus Financial Corp (NYSE:SNV) as reported in a recent SEC Filing. This transaction increased the insider's holdings in the company significantly, reflecting a strong commitment to the company's future.
Synovus Financial Corp operates as a financial services company through its subsidiary, Synovus Bank, providing commercial and retail banking, investment, and mortgage services to customers in Georgia, Alabama, South Carolina, Florida, and Tennessee.
The purchase was made at a price of $40.03 per share, with the total transaction amounting to $1,120,840. This acquisition comes at a time when the stock has a market cap of approximately $5.84 billion and trades with a price-earnings ratio of 13.66, which is above the industry median.
According to the GF Value, the fair value of SNV is estimated at $39.72, suggesting that the stock is Fairly Valued with a price-to-GF-Value ratio of 1.01.
Over the past year, the insider transaction history at Synovus Financial Corp shows a pattern of 1 insider buy and 5 insider sells. The recent purchase by the insider might indicate a positive outlook on the stock's future performance.
The GF Value is calculated considering historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider buy could serve as a key indicator for investors, especially when analyzed in conjunction with the company's current valuation metrics and stock performance trends.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
