Synovus Financial Corp. (SNV) is Downgraded by BofA/Merrill to Neutral

Synovus Financial Corp. (SNV) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on Synovus Financial Corp.. Company shares were Reiterated by Hovde Group on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 34.50 from a previous price target of $31.50 .Synovus Financial Corp. was Downgraded by Raymond James to ” Mkt Perform” on Apr 20, 2016.

On the company’s financial health, Synovus Financial Corp. reported $0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $0.44.Analysts expectations of $ 275.54.During the same quarter in the previous year, the company posted $0.38 EPS.

Synovus Financial Corp. closed down -1.33 points or -4.68% at $27.07 with 16,17,849 shares getting traded on Monday. Post opening the session at $27.88, the shares hit an intraday low of $26.9 and an intraday high of $27.89 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 18, 2016, R Dallis Jr Copeland (EVP/Chief Banking Officer) sold 8,000 shares at $30.10 per share price. According to the SEC, on Feb 4, 2016, Allan E Kamensky (EVP and Corporate Secretary) purchased 3,450 shares at $28.85 per share price. On Jan 22, 2016, Tim E Bentsen (director) purchased 2,700 shares at $28.09 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.

Synovus Financial Corp.

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