SOURCE: The Bedford Report

The Bedford Report

December 02, 2011 08:16 ET

Synovus and Huntington Bancshares Benefitting From More Stable Economic Picture

The Bedford Report Provides Equity Research on Synovus Financial & Huntington Bancshares

NEW YORK, NY--(Marketwire - Dec 2, 2011) - Regional Banking stocks skyrocketed earlier this week after the Federal Reserve and central banks promised to load the global financial system with liquidity in an attempt to ease pressures on the European financial markets. While the measures were more directed towards European Banks, The Wall Street Journal reports that the measures "eased overhanging concerns about US banks." The Bedford Report examines the outlook for companies in the Regional Banking industry and provides equity research on Synovus Financial Corporation (NYSE: SNV) and Huntington Bancshares, Inc. (NASDAQ: HBAN). Access to the full company reports can be found at:

The Fed released a statement saying, "These central banks have agreed to lower the pricing on the existing temporary US dollar liquidity swap arrangement by 50 basis points so that the new rate will be the US dollar overnight index swap rate plus 50 basis points." The measures address bankers' concern around the world that Europe's financial institutions can't get dollars to fund their obligations.

Although the Fed reiterated Wednesday that US regional banks were not facing a liquidity issue, the moves sparked a stock rally. "This takes care of the collateral damage that was caused by the broader European problems," said Quincy Krosby, chief market strategist at Prudential Financial.

The Bedford Report releases market research on the Regional Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Shares of Synovus Financial jumped nearly 8 percent on Wednesday following the fed announcement. Synovus is a financial services company with $28 billion in assets based in Columbus, Georgia. Synovus' bank divisions provide commercial and retail banking, investment and mortgage services to customers in Georgia, Alabama, South Carolina, Florida and Tennessee. The company posted quarterly net income of $15.7 million as compared to losses both sequentially and year over year.

Huntington Bancshares Incorporated is a $55 billion regional bank holding company headquartered in Columbus, Ohio. Earlier this week Fitch Ratings warned that HBAN's loan portfolio may experience some pressure should economic weakness persist, particularly in its home equity portfolio, which represents 21% of total loans and stood at $8.1 billion for 3Q'11.

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