Synovus Financial Corp. Rating Lowered to Hold at Drexel Hamilton (SNV)

Synovus Financial Corp. (NYSE:SNV) was downgraded by research analysts at Drexel Hamilton from a “buy” rating to a “hold” rating in a report released on Thursday, TheFlyOnTheWall.com reports. They currently have a $3.50 price objective on the stock. Drexel Hamilton’s price target indicates a potential upside of 1.74% from the stock’s previous close. The analysts noted that the move was a valuation call.

Shares of Synovus Financial Corp. (NYSE:SNV) traded down 0.15% during mid-day trading on Thursday, hitting $3.435. Synovus Financial Corp. has a 52 week low of $1.96 and a 52 week high of $3.52. The stock’s 50-day moving average is currently $3.19. The company has a market cap of $3.128 billion and a P/E ratio of 4.05.

Synovus Financial Corp. (NYSE:SNV) last announced its earnings results on Thursday, July 18th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, analysts predict that Synovus Financial Corp. will post $0.14 earnings per share for the current fiscal year.

SNV has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “hold” rating on shares of Synovus Financial Corp. in a research note to investors on Monday, July 22nd. They now have a $3.00 price target on the stock, up previously from $2.50. Separately, analysts at SunTrust raised their price target on shares of Synovus Financial Corp. from $2.80 to $3.30 in a research note to investors on Friday, July 19th. They now have a “neutral” rating on the stock. Finally, analysts at Compass Point upgraded shares of Synovus Financial Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Friday, July 19th. They now have a $3.50 price target on the stock, up previously from $2.70.

Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Synovus Financial Corp. has an average rating of “Hold” and an average target price of $3.08.

Synovus Financial Corp. (NYSE:SNV) is a financial services and a bank holding company.