Synovus Financial Corp. (SNV) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Aug 23, 2016.
Many Wall Street Analysts have commented on Synovus Financial Corp.. Company shares were Reiterated by Hovde Group on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 35.50 from a previous price target of $34 .Synovus Financial Corp. was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016.
On the company’s financial health, Synovus Financial Corp. reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.47. The company had revenue of $289.30 million for the quarter, compared to analysts expectations of $288.32 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Synovus Financial Corp. opened for trading at $32.08 and hit $32.43 on the upside on Friday, eventually ending the session at $32.42, with a gain of 0.62% or 0.2 points. The heightened volatility saw the trading volume jump to 9,83,362 shares. Company has a market cap of $3,985 M.
In a different news, on Aug 8, 2016, Liliana C Mcdaniel (Chief Accounting Officer) sold 300 shares at $31.77 per share price. According to the SEC, 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.