weiwentg

Earnings Preview: Synovus Financial

earnings came in at 4c per share, and the stock is down 6% after hours right now. I'm going to agree with the Morgan Keegan folks on this one: they do run the risk of having to cut their dividend due to increased defaults on their residential construction portfolio.

Synovus has quite a bit of spare capital from the TSS spinoff, though, and is likely to survive the crunch. I think its regional competitors probably have more problems.