Synovus Financial Corp.(NYSE:SNV)- A Lost And Found Story?


Dallas, Texas 01/17/2014 (FINANCIALSTRENDS) – US-based Synovus Financial Corp.(NYSE:SNV), it appears to be in a spot of financial trouble. This multichannel financial manager appeared to have made non-lucrative moves in the past couple of quarters and it appears these slip-ups are catching-up fast with the company, this time around.

Synovus Financial Corp.(NYSE:SNV) as a $3.54 billion market cap is currently trading below par at $3.64 when its average 52 week high is $3.71 and 52-week low is $2.44. EPS is 0.87 and PE is 4.20. The Dividend rate for the company is 0.04 and the yield is 1.10.

Synovus Financial Corp.(NYSE:SNV) is a disappointment in its current state, admit those industry insiders who have been watching this stock for years now. In the pre-crisis period Synovus had traded at $30 a share and had a $9.14 book value back in the golden days of 2006. As of last quarterly results it is disappointing $2.86.

Synovus Financial Corp.(NYSE:SNV) the commentary runs on, is currently at the recovery mode and has since marched forward to a sharp turnaround, albeit of incremental value. The long term prospect for this financial house is now established. Long forgotten now is the loan charge-offs it struggled with just a brief time ago, besides the intense reworking on structures which were pulling down the performance of the company has definitely helped. Cost cutting, expenses curtailing, liquidation, restructuring of non-working assets all appear to now have worked to a cohesive completion, marking the start of a turnaround.

Synovus Financial Corp.(NYSE:SNV) can now boast of a better than before net interest bandwidth, higher capital inflow and a considerable build-up of deposits operating on low costs. Today, it is also seeing a finite growth in the loans that its clientele are now choosing to take-out. This too will form a comfortable contribution of the lost financial company which could well be on the rebound!