Synovus Finl Corp (NYSE:SNV)

CAPS Rating: 3 out of 5

A registered bank holding company that provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through bank subsidiaries.

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Member Avatar TMFSpiffyPop (99.36) Submitted: 3/13/2014 5:30:42 PM : Underperform Start Price: $3.41 SNV Score: +3.79

It's had an excellent run -- a great performer in 2012 and 2013 as it came back from a near-death experience in 2008-09. However, I think most of the exciting comeback is now behind it, and my team looked at this one and couldn't find enough competitive advantage. So I'm going to thumb this one down for the medium term. Havin' fun out there: Underperform.

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Member Avatar 401ktimer1 (51.81) Submitted: 11/28/2013 1:29:26 PM : Outperform Start Price: $3.50 SNV Score: -8.21

AK Pick

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Member Avatar ouarmy2012 (66.99) Submitted: 10/21/2013 9:31:16 PM : Outperform Start Price: $3.39 SNV Score: -8.93

Growth is coming in the payment processing industry side of banking. They have had a steady rise over the past 3 years. I see it continuing.

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Member Avatar yoshetty (73.81) Submitted: 9/22/2013 6:00:14 PM : Outperform Start Price: $3.18 SNV Score: -5.28

9/22 Scouter Top 10

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Member Avatar Rilac (97.50) Submitted: 9/5/2013 1:28:56 AM : Outperform Start Price: $2.78 SNV Score: +7.38

Synovus is a small regional bank with 288 branches over 5 states. Its stock price has suffer drastically in the past as investors took over worries of debt problems, and negative earnings. it struggled to recover after the financial crisis of 2008. It was not until late 2011 where it started showing some profits. However many analysts and investors are still having their doubts. once synovus stabilizes and proves that it is profitable, investors will notice and this stock will soar. the repayment of TARP funds in July is just the beginning. I see alot of potential in this small regional bank. In the past five years Synovus has been growing year over year. I see more growth ahead. this is sitting at a cheap valuation below book value with a p/e ratio of 4. this is a winner stock for the long term hold.

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Member Avatar Rafthand (< 20) Submitted: 7/21/2013 9:43:31 PM : Outperform Start Price: $3.23 SNV Score: -7.57

SNV made some serious miscalculations with the Sea Island Company on Georgia's Saint Simons Island, and it has reaped the consequences, about 300 million in losses from that deal alone, I have heard. The failure of the venture on St. Simons could have ruined lesser banks, and it hampered SNV significantly. It took them a while to recover, but the genius of SNV is its synergy of hometown banks and first rate financial services. I bought shares well below $2 and I will keep holding them for the forseeable.

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Member Avatar benyboy (< 20) Submitted: 7/19/2013 1:24:36 AM : Outperform Start Price: $3.25 SNV Score: -8.78

Jim Cramer

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Member Avatar Jacabardo (74.88) Submitted: 6/22/2013 12:04:17 AM : Outperform Start Price: $2.71 SNV Score: +3.93

As housing continues to improve, SNV's balance sheet will make surprising improvements almost magically :)

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Member Avatar ojisanrod (< 20) Submitted: 5/14/2013 9:06:57 AM : Outperform Start Price: $2.77 SNV Score: +5.41

Tarp will be paid in 3rd quarter, housing recovery is underway and delinquent loans are decreasing. Interest rates will start to rise within two years and the spreads will allow profitability to increase

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Member Avatar TMFDeej (99.46) Submitted: 1/12/2013 10:59:51 PM : Outperform Start Price: $2.41 SNV Score: +10.41

Question: When is owing the government a ton of money a good thing?

Answer: When you pay it off.

Bank aren't usually my thing in investing, unless we're talking about a special situation like a mutual conversion, but Synovus Financial (SNV) is an interesting situation with several near-term catalysts that could cause its stock to continue to outperform.

According to a recent Wall Street Transcript interview with Matthew Schultheis from an investment bank called Boenning & Scattergood, a month or so ago SNV sold off a huge chunk of underperforming loans. Why does this matter? Unloading these bad loans will theoretically enable SNV to unlock some of its large loan loss reserves, or at least keep them from having to add as much to them going forward.

Furthermore, Synovus is likely going to pay off its TARP loans in the near future...it currently owes the government more than any other bank in the country.

Unloading these bad loans and paying off the government would in theory make it likely that SNV will be able to reverse the "deferred tax allocation" that it has on the books. This is all accounting stuff (probably why I stay away from banks), but according to what I've learned on this subject this is a very good thing. It is a sign of a healthy bank and bank stocks usually increase significantly when it happens. The Company's CEO believes that this reversal will happen some time in the first half of 2013.

Schultheis believes that these events would lead to an additional BILLION dollars in additional after-tax income for the bank. This naturally would lead to a significant increase in SNV's tangible book value...which might increase from its current $1.6 billion to as much as $2.3 to $2.6 billion by June. That's a big increase, we're looking at $2.88 per share versus a current share price of $2.44. A move like that would likely drive SNV's stock higher.

Add to this the fact that the economy and housing are improving and good things should be in store for the bank.

As a potential takeover target, any acquisition would be made at a premium to this already increasing book value.

I am only adding Synovus as a CAPS pick for now because I am not personally familiar enough yet with the bank accounting nuances to say that this is exactly how things are going to play out here, but this situation certainly looks very interesting. I plan on looking into it more closely when I have time.

Deej

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Member Avatar WilliamCrook2003 (71.47) Submitted: 10/4/2012 2:12:16 PM : Outperform Start Price: $2.39 SNV Score: +11.05

I believe over the long term this bank will outperform the stock market. This is because the fundamentals of this bank are improving for the better and this will result in the stock price reflecting this change.

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Member Avatar surrae (44.34) Submitted: 9/10/2012 1:21:28 PM : Outperform Start Price: $2.31 SNV Score: +14.27

will be acquired

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Member Avatar JamesFogal (< 20) Submitted: 8/10/2012 12:35:17 AM : Outperform Start Price: $1.92 SNV Score: +39.08

Synovus has underperformed for a while but now is ready to overperform over the next year (and longer). I am stocking up on SNV shares.

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Member Avatar TARPedBanks (< 20) Submitted: 11/25/2011 10:26:27 AM : Outperform Start Price: $2.84 SNV Score: -119.39

Repaid TARP preferred.

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Member Avatar larrysd1 (< 20) Submitted: 9/15/2011 8:37:02 PM : Outperform Start Price: $1.34 SNV Score: +93.19

A strong company with good management can overcome obstacles.

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Member Avatar ciamike (< 20) Submitted: 7/19/2011 10:22:04 PM : Outperform Start Price: $1.90 SNV Score: +34.02

They are beginning to rid themselves of foreclosed properties. After that's all done. Look out!

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Member Avatar cnbcgb (36.19) Submitted: 2/14/2011 5:11:49 PM : Outperform Start Price: $2.69 SNV Score: -16.90

I think it gets bought. The southeast is growing and will come back strong, eventually. They recently consolidated their multiple charters which could be for the cost savings as stated, but it also is something they would need to do before being acquired. They've always used the multiple charters as a big selling point that gives customers multiple protections for multiple pots of money. However, multiple charters makes the financials hard to understand. I immediately thought they may be prepping to be acquired when I heard they were consolidating the charters. I could be wrong because they did need every bit of cost cutting they could get, and consolidating the charters did yield that result. Either way, I think this bank is through the worst of it.

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Member Avatar sean89441 (< 20) Submitted: 12/23/2010 1:05:19 AM : Outperform Start Price: $2.51 SNV Score: -16.32

Cleaning up bad loans

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Member Avatar jermskirk (85.14) Submitted: 11/3/2010 2:29:53 PM : Outperform Start Price: $1.93 SNV Score: +15.16

Positively mentioned by Tom Brown in presentation I attended today. Maybe his most positive.

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Member Avatar wil3714 (< 20) Submitted: 11/1/2010 2:17:31 PM : Outperform Start Price: $2.08 SNV Score: +2.62

selloff in banks overdone

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