Synovus (SNV) is Initiated by Wells Fargo to Market Perform

Synovus (SNV) is Initiated by Wells Fargo to Market Perform , according to the research report released to the investors. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Synovus Financial Corp. (NYSE:SNV) ended Thursday session in red amid volatile trading. The shares closed down 0.32 points or 0.98% at $32.28 with 1,392,273 shares getting traded. Post opening the session at $32.6, the shares hit an intraday low of $32.27 and an intraday high of $33.03 and the price vacillated in this range throughout the day. The company has a market cap of $4,216 million and the number of outstanding shares has been calculated to be 130,600,417 shares. The 52-week high of Synovus Financial Corp. (NYSE:SNV) is $33.8 and the 52-week low is $24.41.

During the last several months other analysts have commented on the company rating. Barclays maintains its view on Synovus Financial Corp. (NYSE:SNV) according to the research report released by the firm to its investors. The shares have now been rated Underweight by the stock experts at the ratings house. Barclays lowers the price target from $31 per share to $30 per share on Synovus Financial Corp.. The rating by the firm was issued on October 9, 2015.

Analysts at Zacks have given a short term rating of hold on Synovus Financial Corp. (NYSE:SNV) with a rank of 3. The shares has received an average rating of 2.73 from 11 brokerage firms. 2 analysts have rated the company as a strong buy. The shares has been rated as hold from 5 Wall Street Analysts. 2 analysts have suggested buying the shares.1 analyst has also rated it as a strong sell. A sell call was given by 1 analyst.

Synovus Financial Corp. (NYSE:SNV) shares are expected to touch $32.55 in the short term. This short term price target has been shared by 11 analysts. However, the standard deviation of short term price estimate has been valued at 2.58. The target price could hit $36 on the higher end and $29 on the lower end.

Shares of Synovus Financial Corporation appreciated by 1.01% during the last five trading days but lost 0.02% on a 4-week basis. Synovus Financial Corporation is up 11.01% in the last 3-month period. Year-to-Date the stock performance stands at 20.83%.”

Synovus Financial Corp. ( Synovus) is a financial services and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its customers through 29 locally-branded banking divisions of its wholly-owned subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee. Its retail banking services include accepting customary types of demand and savings deposits; mortgage, installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet based banking services, and bank credit card services, including MasterCard and Visa services. In December 10, 2012, it sold the distressed assets.