Citi Raises Price Target for Synovus Financial (SNV), Keeps Buy Rating

Synovus Financial Corp. (NYSE:SNV) is one of the 10 Best Financial Stocks on Wall Street’s Radar. On July 18, Citi increased its price target for Synovus Financial Corp. (NYSE:SNV) from $57 to $65 and reiterated a Buy rating.

Citi pointed out the company’s strong quarterly loan growth, which the firm sees as one of the bank’s best performances in recent years.

The investment firm also noted that Synovus Financial Corp. (NYSE:SNV) plans to make a significant number of new hires over the next two to three years. This move is expected to help the company become a more growth-focused regional bank in the Southeast.

Additionally, Citi highlighted Synovus Financial Corp.’s (NYSE:SNV) strong expense management and credit trends that have consistently performed better than expected. This has contributed to positive shareholder value in both the short and the long term.

Citi slightly reduced its 2026 projections for Synovus Financial Corp. (NYSE:SNV), mainly because of talent acquisition and investment-related expenses. However, Citi’s analysis suggests that these expenses will likely help improve shareholder value in the long term.

Synovus Financial Corp. (NYSE:SNV) is an American financial services company that offers commercial and consumer banking and a full range of specialized products and services, including wealth services, treasury management, mortgage services, premium finance, asset-based lending, structured lending, capital markets, and international banking.

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Disclosure: None. This article is originally published at Insider Monkey.