Finally, the disaster that is Synovus (SNV) seems like the kiss of death to the group as the deal broke price so quickly as to make people feel that the whole game is a sucker's game, which, with the exception of when many stocks were in the low digits back in March, seems to be the case.

Could Synovus (SNV) be next? I will say this: Huntington is a much better lender than Synovus. But Synovus is way too low and way too low below its offering,

Do you mind that we are about to resolve another part of the financial crises with deals from Synovus (SNV) and Genworth (GNW), two goners just a few months ago?

Due to regional bank failures , Bank of North Georgia, a subsidiary of Synovus Financial (SNV), acquired all retail deposits of American Southern, and US Bancorp (USB) bought First Bank of Idaho's deposits. Read more here.

Financial Institution on the rise.

St. Pierre is bullish on several depressed regionals, including Synovus, Marshall & Ilsley and Fifth Third, which all trade near their tangible book values: "2009 is going to be a tough earnings year for all these banks. You have to value them on tangible book value and 2010 earnings," he says. Georgia-based Synovus, now around 10, could earn over 90 cents a share in 2010 after just 25 cents in 2009, St. Pierre estimates. It has a poorly performing portfolio of construction loans, but a desirable franchise in Georgia and Florida.

Neutral - Price 8.99 on June 18
by FTN Midwest

We're reducing Georgia-based SNV to Neutral from Buy, to reflect credit issues which appear less likely to peak in 3Q08 for SNV and Southeastern banks. As such, a (partial) rebound in earning power is further out. Market cap: $3.2 billion. Our downward-revised target is 9, based on...10 times FY09 estimates. Market cap: $2.9 billion.

Dividend over 5%. Dividend has increased over at least the last 10 years.

Dividend over 5%. Dividend has increased over at least the last 10 years.

Dividend over 5%. Dividend has increased over at least the last 10 years.

slow to comeback

financial