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After spending more than a year stuck at a two-star rank, enough top-performing CAPS members have turned bullish on Synovus Financial
Similar to other banks, like BB&T
The company raised $600 million in a secondary offering in September and has been aggressively managing its credit, leading it to recently affirm its financial position. Synovus has exceeded recent government stress tests and said that at the end of the third quarter its Tier 1 capital ratio was at 10.48%, right around the ballpark of larger banks such as JPMorgan Chase
Synovus also sees opportunity to return to profitability in 2010 and says it's not under any regulatory requirements to raise additional capital. And while Citigroup and Wells Fargo made a fast dash to pay back TARP following Bank of America's
Do you think Synovus Financial deserves its raised status? Add your thoughts in the comments box below on this page, or head over to CAPS to rate the company and check out all the information and opinions the community offers, absolutely free.
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Fool contributor Dave Mock recently upgraded his Yahtzee strategy to be more aggressive on the long straight and the four-of-a-kind. He owns no shares of companies mentioned here. The Fool's disclosure policy is in the midst of a Star Trek binge.