Synovus Financial Corp. (SNV) shares are trading at $2.48. Synovus is a regional bank located in Georgia. The 50 day moving average is about $2.66 and the 200 day moving average is about $2.47. Earnings estimates are a loss of 22 cents for 2011 and a profit of 18 cents for 2012. This gives SNV shares a PE ratio of about 13 times forward earnings. The dividend is 4 cents per share per year which is a yield of about 1.6%. You can see the insider buying here.
What Synovus insiders and other investors might be seeing: SNV has been considered a takeover target for a major bank looking to expand, and regional banks continue to see a wave of buyout deals. Just days ago yet another analyst said they thought SNV was a buyout target and you can read more on that here. Also, Synovus has been reporting improving financial results so whether or not there is a deal for SNV, it looks like the stock makes sense for the long term.
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