CLSA Maintains Synovus Financial Corp. to Outperform with Price Target $33.00

Brokerage firm CLSA Maintains its rating on Synovus Financial Corp.(NYSE:SNV). In a research note issued to the investors, the brokerage major Raises the price-target to $33.00 per share. The shares have been rated Outperform. The rating by CLSA was issued on Sep 23, 2016.

In a different note, On Aug 23, 2016, Wells Fargo said it Downgrades its rating on Synovus Financial Corp.. The shares have been rated ‘Underperform’ by the firm. On Jul 20, 2016, Barclays said it Maintains its rating on Synovus Financial Corp.. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jul 7, 2016, JP Morgan said it Maintains its rating on Synovus Financial Corp.. In the research note, the firm Lowers the price-target to $32.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 29, 2016, Bank of America said it Downgrades its rating on Synovus Financial Corp.. The shares have been rated ‘Neutral’ by the firm.

Synovus Financial Corp. (SNV) made into the market gainers list on Tuesdays trading session with the shares advancing 0.47% or 0.15 points. Due to strong positive momentum, the stock ended at $31.9, which is also near the day’s high of $31.95. The stock began the session at $31.58 and the volume stood at 11,53,715 shares. The 52-week high of the shares is $33.8 and the 52 week low is $25.48. The company has a current market capitalization of $3,922 M and it has 12,29,32,237 shares in outstanding.

Synovus Financial Corp.(SNV) last announced its earnings results on Jul 19, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $289.33M. Analysts had an estimated revenue of $288.08M. Earnings per share were $0.49. Analysts had estimated an EPS of $0.47.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, Liliana C Mcdaniel (Chief Accounting Officer) sold 300 shares at $31.77 per share price.Also, On May 18, 2016, R Dallis Jr Copeland (EVP/Chief Banking Officer) sold 8,000 shares at $30.10 per share price.On Feb 4, 2016, Allan E Kamensky (EVP and Corporate Secretary) purchased 3,450 shares at $28.85 per share price, according to the Form-4 filing with the securities and exchange commission.

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 28 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. The Company’s commercial banking services include cash management asset management capital markets services institutional trust services and commercial financial and real estate loans.

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