Will Wells Fargo’s Latest Ratings Coverage Help Synovus (NYSE:SNV)’s Share Price?

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How Wells Fargo Currently Rates Synovus (NYSE:SNV)

Wells Fargo have begun coverage on Synovus (NYSE:SNV) shares recently in analysts note sent to investors on Monday morning. The equities firm has decided to place a “Market Perform” rating on SNV stock.

From a total of 18 analysts covering Synovus Financial Corp. (NYSE:SNV) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $36 while the lowest target price is $27. The mean of all analyst targets is $33.11 with a 1.28% above today’s ($31.97) stock price. Synovus Financial Corp. was the topic of 12 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. SunTrust maintained shares on September 1 with “Buy” rating.

Approximately 113,513 shares of stock traded hands. Synovus Financial Corp. (NYSE:SNV) has risen 9.17% since May 18, 2015 and is uptrending. It has outperformed by 14.98% the S&P500.

Synovus Financial Corp. is a financial services and a bank holding company. The company has a market cap of $4.14 billion. The Firm provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its clients 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. It has 20.46 P/E ratio. The Company’s 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 banking services, and bank credit card services, including MasterCard and Visa services.

According to Zacks Investment Research, “Synovus Financial Corp. is engaged in two reportable business segments: banking, which is primarily involved in commercial banking activities and also provides retail banking, trust services, mortgage banking, securities brokerage and insurance services, and transaction processing, which includes credit, debit, commercial and retail card processing and related services and debt collection and bankruptcy management services.”

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