Analyst Upgrades Synovus Financial To 'Buy'

NEW YORK (AP) — A SunTrust Robinson Humphrey analyst upgraded Synovus Financial Corp. to "Buy" from "Neutral" Monday, citing the regional bank's efforts to control expenses and improve earnings.

In a note to clients, Jennifer H. Demba wrote that a rising net interest margin, a wave of mortgage refinancing and improved loan and deposit pricing could boost pre-tax provision earnings at the Columbus, Ga.-based company.

The bank's credit outlook also appears to have improved from just a few weeks ago, Demba added, since the bank is "being more aggressive" with its problem loan portfolio. The largest percentage of the company's non-performing assets sit in the Atlanta area, and the housing market there appears to be improving, Demba wrote. ...