Synovus Financial Corp. Rating Increased to Equal Weight at Morgan Stanley (SNV)
Synovus Financial Corp. (NYSE:SNV) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $3.30 target price on the stock, up from their previous target price of $3.20. Morgan Stanley’s price target suggests a potential upside of 2.48% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at SunTrust upgraded shares of Synovus Financial Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 16th. Analysts at Zacks downgraded shares of Synovus Financial Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, March 28th. They now have a $3.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.38.
Shares of Synovus Financial Corp. (NYSE:SNV) traded up 0.31% on Thursday, hitting $3.22. The stock had a trading volume of 6,736,811 shares. Synovus Financial Corp. has a 1-year low of $2.60 and a 1-year high of $3.79. The stock’s 50-day moving average is $3.35 and its 200-day moving average is $3.4. The company has a market cap of $3.132 billion and a P/E ratio of 20.19.
Synovus Financial Corp. (NYSE:SNV) last released its earnings data on Tuesday, April 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, analysts predict that Synovus Financial Corp. will post $0.20 earnings per share for the current fiscal year.
Synovus Financial Corp. (NYSE:SNV) is a financial services and a bank holding company.
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