Synovus (SNV) Gets a Hold Rating from Jefferies

In a report released today, Ken Usdin from Jefferies reiterated a Hold rating on Synovus (NYSE: SNV), with a price target of $49. The company’s shares opened today at $46.03, close to its 52-week low of $44.60.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 24.7% and a 86.7% success rate. Usdin covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, First Republic Bank, and Citizens Financial.

The word on The Street in general, suggests a Hold analyst consensus rating for Synovus with a $53.71 average price target, representing a 16.7% upside. In a report issued on October 2, Wells Fargo also maintained a Hold rating on the stock with a $51 price target.

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Synovus’ market cap is currently $5.39B and has a P/E ratio of 16.68. The company has a Price to Book ratio of 1.91.

Based on the recent corporate insider activity of 172 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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