Synovus Financial Corp. (SNV)

Oversold, Over panicked, techinical bounce likely to endure, Insider buys have been occuring very recently, Might end up being the next Cit With a happy ending...

"Quell" this. All the dilution this thing has experienced has destroyed a good majority of value here. If it gets back on solid ground, great, but all these damn shares these companies are issuing has got to stop. One only has to hope that they will eventually buy them back.

bullish

Wild card here. Medium regional bank in the Southeast with exposure to Commercial and Residential RE. They're through most of the RRE, now they are working on the CRE. Their focus is on liquidation of bad assests, get the Balance Sheet strengthend, build reserves and position for growth IF they can slog through 2010-2011 CRE mess. Management is focused and not doing anything fancy. (I've heard the term "Bubba Managment"). I think we need more Bubba's and less "Slick Willeys".

might be the next CIT

I agree and am not a pumper. My logic is based on SNV owning 81% of TSYS (symbol:TSS). The current market cap of TSYS is $3.1B... with a "B" for Billion. If you don't trust me do your homework. TSS is a credit card processing company spun off by SNV. They are profitable and flush with cash. SNV's share of TSS is worth $2.5B or, if you equate that into SNV shares, $5.16/share. This does not include anything for SNV. Let's say SNV is completely worthless... it is good to know that I still have $5.16 of value for my $2.26 investment. When, not if, the economy recovers, SNV should recover to $5 - $7 quickly.

Priced for doom, it will survive and go higher. It hits $7 in a few years.

nice insider buys

They were very optimistic during the most recent conference call...predicting a return to profitability by the first quarter of 2010. I don't see that happening as long as CRE does stop deteriorating very soon.

To quote them exactly: "One driver is commercial real estate". They think it won't follow the same path as residential real estate, I disagree.

go baby go!

Too secure and too cheap to pass up at these prices. People are afraid and have priced in an irrationally high fear of failure.

trying to find some value..

bull

Very cheap right now for a well-managed bank.

It's a banking institution.........need I say more?

Oopsss Did the Green thumb thing when I should have done the Red..

Well run bank. Speculative as most financials are today but I have alsways liked this issue and I think in the next few months to a year could garner a 30 to 50% rise.

Classic take under canidate. Treasury capital infusion would help but I don't know that they would qualify looking at their financials. Another crash test dummy bank that will probably be bought out in 6-9 months.

Regional bank with a good amount of cash and conservative mangement who is going to weather this downturn. This is a great company to work for according to many awards they have received. Worth $12.60/ share. Buy below $8.40