Analysts have been eager to weigh in on the Financial sector with new ratings on MGIC Investment (NYSE: MTG) and Synovus (NYSE: SNV).
MGIC Investment (NYSE: MTG)
In a report released today, Sean Dargan from Wells Fargo maintained a Hold rating on MGIC Investment (NYSE: MTG). The company’s shares closed yesterday at $10.47, close to its 52-week low of $9.97.
Dargan noted:
“We were modeling an April cure ratio of 112.4%. The favorable cure ratio probably reflects delinquent loans curing in the geographical areas that the Agency declared Areas as a result of hurricanes Maria, which occurred in August September 2017. The cure ratio should be a precursor to favorable priorperiod development, although the initial reserve per delinquency in the hurricaneimpacted areas was probably lower than would otherwise be the case.”
According to TipRanks.com, Dargan is a 2-star analyst with an average return of 1.2% and a 45.6% success rate. Dargan covers the Financial sector, focusing on stocks such as Brighthouse Financial Inc, Prudential Financial Inc, and Lincoln National Corp.
MGIC Investment has an analyst consensus of Strong Buy, with a price target consensus of $15.57.
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Synovus (NYSE: SNV)
In a report released today, Tyler Stafford from Stephens assigned a Buy rating to Synovus (NYSE: SNV), with a price target of $59. The company’s shares closed yesterday at $53.06, close to its 52-week high of $53.69.
According to TipRanks.com, Stafford is a 5-star analyst with an average return of 19.7% and a 84.7% success rate. Stafford covers the Financial sector, focusing on stocks such as Carolina Financial Corporation, Pacific Premier Bancorp Inc, and Svb Financial Group.
Currently, the analyst consensus on Synovus is Moderate Buy and the average price target is $56.13, representing a 5.8% upside.
In a report issued on April 24, SunTrust Robinson also reiterated a Buy rating on the stock with a $59 price target.
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