Banks play a critical role in the financial system, providing everything from commercial loans to wealth management and payment processing services. Still, investors are uneasy as banks face challenges from credit quality concerns and potential regulatory changes.
These doubts have caused the industry to lag recently as banking stocks have collectively shed 10.1% over the past six months. This performance was disappointing since the S&P 500 stood firm.
Investors are keeping a close eye on SYNOVUS FINANCIAL CORP (NYSE:SNV) as it boasts an impressive technical rating of 8 out of 10, signaling a possible breakout.
