Synovus (SNV) Receives a Hold from Wells Fargo


In a report released yesterday, Jared Shaw from Wells Fargo maintained a Hold rating on Synovus (SNV). The company’s shares closed yesterday at $32.68, close to its 52-week low of $29.93.

According to TipRanks.com, Shaw is a 1-star analyst with an average return of -5.0% and a 38.2% success rate. Shaw covers the Financial sector, focusing on stocks such as Pinnacle Financial Partners, People’s United Financial, and TCF Financial Corporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Synovus with a $46.22 average price target, a 41.4% upside from current levels. In a report issued on December 18, Stephens also maintained a Hold rating on the stock with a $43 price target.

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Synovus’ market cap is currently $3.81B and has a P/E ratio of 11.58. The company has a Price to Book ratio of 1.34.

Based on the recent corporate insider activity of 173 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SNV in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Synovus Financial Corp. is a bank holding company, which engages in the provision of financial services. It offers commercial and retail banking, financial management, insurance, and mortgage services to its customers. The company was founded in 1972 and is headquartered in Columbus, GA.

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