Great Western Bancorp: Hotel Exposure Creates Risks [Seeking Alpha]
Great Western Bancorp, Inc. (GWB)
Last great western bancorp, inc. earnings: 4/30 07:04 am
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US:NYSE Investor Relations:
ir.greatwesternbank.com
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Source: Seeking Alpha
SummaryEarnings will likely remain under pressure due to elevated provision expense and net interest margin contraction.GWB has high exposure to the hotel industry, which is a major source of credit risk amid the COVID-19 pandemic.The elevated risk level will likely restrain the stock price in the near-term.Earnings of Great Western Bancorp, Inc. (NYSE:Hotel Exposure is Disconcertingly HighGWB is currently facing high credit risk because of its exposure to some industries. Around 21% of GWB’s total loans were to COVID-19 sensitive industries at the end of the June-ending quarter, according to details given in the third quarter’sinvestor presentationconference callFurther, GWB will adopt the new accounting standard for credit losses, called Current Expected Credit Losses, or CECL, on October 1, 2020, as mentioned in the last quarter’s10-Q filingOn the positive side, the management appeared to be optimistic about the agriculture sector in the conference call, mostly due to an improvemen
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