Synovus Financial Pounded on TARP Repayment Fears
Buy the dips from the dips!
Analysts said regional bank shares were hurt by the prospect of TARP repayments, including dilutive common stock offerings like PNC's announcement, and investor worries about first-quarter 2010 performance.
Edit 3:10: Interesting note from FBR on buying the regionals on this dip.
Buy! says FBR Capital Markets analyst Paul Miller in a note to clients today.
On a selective basis, we believe that such an overhang may present an attractive entry point for investors to add or build positions. Names that we would look to take advantage of near-term weakness would be Fifth Third Bancorp (FITB), Huntington Bancshares (HBAN), SunTrust Banks (STI), and ZION.