NEW YORK (TheStreet) -- Jefferies raised its price target on Synovus Financial (SNV) - Get Free Reportstock to $31 from $30 on Friday, after the company reported its 2015 third quarter earnings results last week.
The Columbus, GA-based financial services and bank holding company reported earnings that were in line with analyst expectations, at 42 cents per share.
Jefferies raised its 2016 earnings estimates for the company to $1.90 from $1.85 per share. The firm maintained its "hold" rating on the stock.
Synovus's indication of higher expenses over the next five quarters is offset by a comfortable tone on credit, the firm added.
Shares of Synovus were up by 0.35% to $31.50 in midday trading on Tuesday.
Separately, TheStreet Ratings team rates SYNOVUS FINANCIAL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate SYNOVUS FINANCIAL CORP (SNV) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, solid stock price performance and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: SNV