In a report released today, Tyler Stafford from Stephens assigned a Buy rating to Synovus (SNV), with a price target of $42.00. The company’s shares closed last Monday at $33.72.
According to TipRanks.com, Stafford is a 3-star analyst with an average return of 3.1% and a 47.2% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Synovus with a $41.20 average price target, which is a 22.2% upside from current levels. In a report issued on October 3, Morgan Stanley also maintained a Buy rating on the stock with a $43.00 price target.
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Based on Synovus’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $156 million. In comparison, last year the company had a net profit of $109 million.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNV in relation to earlier this year.
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Synovus Financial Corp. is a bank holding company, which engages in the provision of financial services. It offers private banking, treasury management, wealth management, premium finance and international banking, commercial and retail banking, financial management, insurance, and mortgage services to its customers.
