Monday, November 26, 2012

Synovus Financial Corp (SNV) Stock prediction 2013

Stock Market Today - Synovus Financial Corp (SNV) Stock prediction 2013 ; Synovus Financial Corp (SNV). Synovus Financial Corporation is a financial services and bank holding company with branches throughout the Southeastern United States. Synovus offers commercial and retail banking, financial management, insurance and mortgage services.

The story of SNV is quite interesting. After being one of the most profitable small, community-based banks in the Southeast for over a decade, the company imploded in 2008 due to the housing crisis.

 The stock plummeted from over $30 a share to under $2, where it languished for some time. Synovus began turning the corner in 2011, however, by paring down its loan losses. Recent quarters, in fact, have shown a return to modest profitability of 2 cents a share (3rd Quarter data). The stock has responded in kind by gaining over 18% in the last three months, and looks to be going much higher. With improving housing numbers possibly coming down the pike in 2013 (see above),

SNV holds the clear potential to be a multi-bagger in short order. At worst, the stock may stall at current levels, which would still give investors a decent dividend yield of approximately 1.80% for holding. Like ARR, SNV is also trading under book value at $2.35 a share. Synovus Financial Corp is my second favorite value stock for 2013 and beyond.

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