Bank Stocks Have Been Winners This Year. Here's Why There's More Upside in 2022. [MarketWatch]
Synovus Financial Corp. (SNV)
Last synovus financial corp. earnings: 4/24 06:30 am
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Source: MarketWatch
nearly 40% but many on The Street see even more gains ahead as we return to a more-normalized post-Covid economy. Namely, there are two factors that analysts say will be a driver of earnings in 2022 and 2023. First, it is expected that the Federal Reserve will begin lifting interest rates, which will widen the spread banks earn between the interest they charge on loans and the interest they pay on in deposits. Analysts at Oppenheimer note that the Treasury yield curve is forecasting at least one or two rate hikes by 2023 , adding that the first hikes are the most “consequential” for banks. Two rate hikes would translate into a 5% increase in net interest income, according to Oppenheimer analyst Chris Kotowski. The second catalyst for bank stocks would be shaking off nearly two years of tepid-to-negative loan growth as businesses resume borrowing. Oppenheimer forecasts loans to grow 3% annually through 2023. This is both a reflection of a return to normalcy as well as businesses na
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News
- AI won't have 'huge' effect on Big Tech earnings: Strategist [Yahoo! Finance]Yahoo! Finance
- Synovus Financial Corp. (NYSE: SNV) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Truist Financial Co. from $45.00 to $39.00. They now have a "buy" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Royal Bank of Canada from $44.00 to $41.00. They now have an "outperform" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Piper Sandler from $46.00 to $42.00. They now have an "overweight" rating on the stock.MarketBeat
SNV
Earnings
- 4/17/24 - Miss
SNV
Sec Filings
- 4/18/24 - Form 8-K
- 4/17/24 - Form 8-K
- 3/12/24 - Form ARS
- SNV's page on the SEC website