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: $23.80 SNV Score: +7.42

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 (57.18) Submitted: 11/28/2013 1:29:26 PM : Outperform Start Price: $24.43 SNV Score: -12.04

AK Pick

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Member Avatar ouarmy2012 (63.32) Submitted: 10/21/2013 9:31:16 PM : Outperform Start Price: $23.66 SNV Score: -12.91

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 Rafthand (< 20) Submitted: 7/21/2013 9:43:31 PM : Outperform Start Price: $22.55 SNV Score: -11.64

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: $22.69 SNV Score: -12.90

Jim Cramer

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Member Avatar Jacabardo (69.88) Submitted: 6/22/2013 12:04:17 AM : Outperform Start Price: $18.89 SNV Score: -0.10

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: $19.37 SNV Score: +1.58

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 WilliamCrook2003 (71.46) Submitted: 10/4/2012 2:12:16 PM : Outperform Start Price: $16.65 SNV Score: +6.90

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 (44.12) Submitted: 9/10/2012 1:21:28 PM : Outperform Start Price: $16.11 SNV Score: +10.16

will be acquired

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Member Avatar JamesFogal (< 20) Submitted: 8/10/2012 12:35:17 AM : Outperform Start Price: $13.42 SNV Score: +35.54

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: $19.81 SNV Score: -131.04

Repaid TARP preferred.

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Member Avatar larrysd1 (< 20) Submitted: 9/15/2011 8:37:02 PM : Outperform Start Price: $9.36 SNV Score: +90.47

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: $13.27 SNV Score: +30.09

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

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Member Avatar cnbcgb (28.32) Submitted: 2/14/2011 5:11:49 PM : Outperform Start Price: $18.75 SNV Score: -22.28

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: $17.50 SNV Score: -21.97

Cleaning up bad loans

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Member Avatar jermskirk (84.73) Submitted: 11/3/2010 2:29:53 PM : Outperform Start Price: $13.50 SNV Score: +10.13

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: $14.49 SNV Score: -2.79

selloff in banks overdone

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Member Avatar tranthrax (29.26) Submitted: 8/3/2010 8:22:26 AM : Outperform Start Price: $20.60 SNV Score: -48.73

Synovus Financial Corp. shares have been battered over the past two years. The southeast regional bank is still trying to recover from the financial crisis that struck. The firm has reported a net loss for the past eight consecutive quarters, and most likely will report losses for the rest of 2010. The bank officials are confident of return to profitability by 2011, helped by improving credit trends. The company's efforts were evident in the most recent quarter as well as it managed to significantly trim its losses.

Quoting from Philip van Doorn of thestreet.com

Synovus recorded a "net loss $242.6 million or 36 cents a share, missing the consensus estimate of a 30 cent loss per share, among analysts polled by Thomson Reuters. The company reported a decline in nonperforming assets and while net charge-offs -- loan losses less recoveries -- totaled $433 million; its provision for loan losses was $299 million for the Q2 of 2010.

The $134 million reserve release followed the trend for many of the largest banks, which are turning the corner on asset quality and allowing their loan loss reserves to decline, which boosts earnings.

Other recent developments for Synovus include the company's move to reduce operating and regulatory expenses by combining its 30 separate bank charters into one. This was completed in June, although it's pretty obvious that it should have been done years earlier. Synovus also raised $1.1 billion in capital during the second quarter."

There is plenty to look forward to:

The bank is pursuing several capital initiatives and sees potential for recovery of deferred tax asset valuation allowance in 2011. Credit costs already appears to have peaked while new problem loans and chargeoffs have fallen. Meanwhile, the non-performing assets are being written off their books. Moreover, the company's loan loss provision is set to fall as well. The firm has already done a remarkable job in cutting the cost of operations and curbing expenses.

Meanwhile, the bank is poised to benefit from diminished competition as a number of banks in the south-east region are going out of business or being taken over by FDIC. The bank is also poised to benefit from a sustained recovery in housing market.

This 2.1 billion in market cap bank is one of the biggest regional banks, it was even once a $15 stock, and is gradually improving. Losses per quarter have been steadily decreasing and a possibility of profitability for 2011 is very likely. It pays a 1.5% dividend while we wait, the paying of the dividend shows confidence that the SNV will once again become profitable while loyal share holders benefit.

Plenty of analysts agree in that the company's poised for profit in 2011 but disagree in set target prices (Links: [http://business.nashvillepost.com/2010/03/29/analyst-action-pinnacle-synovus/], [http://www.theflyonthewall.com/permalinks/entry.php/SNVid1257520/SNV-Synovus-upgraded-to-Neutral-from-Underperform-at-Credit-Suisse], [http://www.theflyonthewall.com/permalinks/entry.php/SNVid1267801/SNV-Synovus-initiated-with-a-Positive-at-Susquehanna]), two states 29% (posted in March and June respectively) upside another 66% (posted in July). Morgan Keegan also has a positive outlook on the stock (Link: http://www.theflyonthewall.com/permalinks/entry.php/FITB;HBAN;MI;SNV;TCBI;ZIONid1249246/FITB;HBAN;MI;SNV;TCBI;ZION-Morgan-Keegan-positive-on-select-regional-banks).

Insider buying is a sign of confidence as well. There has been over $1.4 million bought at roughly $2.75 back in May alone (Link: http://www.insider-monitor.com/trading/cik18349.html), which is about the current price of $2.71.

Reward outweigh risks?

Synovus owes $968 million in bailout money, and has not missed any dividend payments on preferred shares held by the Treasury.

While the reported financials and the capital raise make a pretty clear case that Synovus is in pretty decent shape and heading toward profitability, there is a potential risk of dilution if the company decides to raise even more capital. Then again, shares are trading at a big enough discount to address some of that risk. For investors who can commit to the shares for at least three years and avoid reacting to the short-term swings of the market, Synovus looks like a nice recovery play.

Long SNV d($_$)b

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Member Avatar unusualpro (< 20) Submitted: 7/31/2010 8:25:23 PM : Outperform Start Price: $17.35 SNV Score: -40.05

Im really into banks right now. The bounce is coming I can feel it

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Member Avatar Cosmo21 (< 20) Submitted: 6/13/2010 9:26:30 PM : Outperform Start Price: $18.26 SNV Score: -49.23

WELL UNDERVALUED! Just raised 1 Bil with ease. When M&amp;A kicks in watch this one

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