Why Investor’s Didn’t React To Synovus Financial Corp (NYSE:SNV) Results?
On Tuesday, Synovus Financial Corp (NYSE:SNV) announced its earnings results. It reported earnings per share of $0.04 for the quarter which was on par with the average analysts’ projection of $0.04.
Numerous firms have weighed on the company stock recently. ISI Group analysts have assigned a “neutral” rating on the stock and set a price target of $3.50. Zacks analysts upgraded the company shares from a “neutral” to an “outperform” rating on 4 October and have set a price target of $3.50 on the stock. Two research-analysts have assigned a “sell” rating n the stock, 8 analysts have assigned a “hold” rating, while 7 have assigned a “buy” rating. The average rating on the stock is currently a “hold” and the average PT is $3.17.
In Tuesday’s trading, Synovus Financial Corp (NYSE:SNV) dropped by 0.29%. The opening price of the shares was $3.41, which climbed to an intraday high of $3.42 and dipped to a close of $3.38. Approximately 13.29 million shares were traded on Tuesday while an average volume of 8.15 million shares were traded over a 30 day period. The 52-week low of Synovus Financial Corp (NYSE:SNV) shares is $2.07 and its 52-week high is $3.52.
About the company
Synovus Financial Corp (NYSE:SNV) is a financial-services and a bank-holding company. It provides integrated-financial services, such as commercial & retail banking, financial-management, insurance & mortgage services to numerous customers via 29 locally branded banking segments of Synovus Bank, its 100%-owned subsidiary-bank, and various offices in Alabama, Georgia, South Carolina, Tennessee and Florida.
The company’s retail banking services accept customary types of savings and demand deposits; retail and installment loans and mortgage. It also covers investment & brokerage services; safe-deposit services; automated-banking services and automated fund transfers. In addition, the company provides web-based banking services, &bank credit-card services, such as MasterCard & Visa services.