Synovus (SNV) Receives a Buy from Jefferies

Jefferies analyst Casey Haire maintained a Buy rating on Synovus (SNV) on April 21 and set a price target of $52.00. The company’s shares closed last Thursday at $49.14, close to its 52-week high of $50.51.

According to, Haire is a 5-star analyst with an average return of 16.5% and a 70.3% success rate. Haire covers the Financial sector, focusing on stocks such as People’s United Financial, Texas Capital Bancshares, and Associated Banc-Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Synovus with a $53.05 average price target, an 9.0% upside from current levels. In a report issued on April 7, Raymond James also maintained a Buy rating on the stock with a $53.00 price target.

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Synovus’ market cap is currently $7.32B and has a P/E ratio of 14.80. The company has a Price to Book ratio of 1.75.

Based on the recent corporate insider activity of 68 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.

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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. The company was founded in 1972 and is headquartered in Columbus, GA.

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