Insider Trading Report: Synovus Financial Corp (SNV)

Kevin Blair, President and CEO at Synovus Financial Corp (SNV), recently bought 3,100 shares. The buy increased his holdings by 3.5 percent, and came to a total price of just over $150,000.

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  • This marks the first insider buy at the company since last April. Company insiders have been active sellers over the past few months as shares have trended higher. The last big insider buy occurred in early 2020.

    Overall, company insiders own 1.2 percent of shares.

    Shares of the bank are up about 12 percent in the past year, just slightly better than the returns of the S&P 500.

    The bank trades for under 12 times forward earnings and sports a hefty 36 percent profit margin, which makes it an attractive mid-sized regional bank.

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  • Action to take: The bank is a little pricey in terms of its price to book ratio, but given the 33 percent earnings growth in the past year, management is clearly delivering for shareholders. Buyers of shares can also get a 2.7 percent dividend yield at current prices.

    For traders, the May $55 calls, last going for about $1.95, look attractive here. Shares would need to move nearly 10 percent higher for the trade to move in-the-money, but given the uptrend in shares, traders could likely nab a mid double-digit yield off this bank play in the months ahead.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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