Synovus Financial: LIBOR Decline, Worsened Economic Outlook To Hurt Earnings [Seeking Alpha]
Synovus Financial Corp. (SNV)
Last synovus financial corp. earnings: 4/24 06:30 am
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US:NYSE Investor Relations:
investor.synovus.com
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Source: Seeking Alpha
SummaryLIBOR decline in the second quarter will pressurize net interest margin in the remainder of the year.Another big reserve build is likely due to a worsening of the economic outlook since the end of the first quarter.Initiatives to cut costs and increase revenues will likely get delayed due to COVID-19.The COVID-19 related risks and uncertainties will likely keep the stock price range-bound in the near-term of three to four months.Earnings of Synovus Financial Corp. (SNVMargin to Contract Following LIBOR DipSNV's net interest margin, NIM, declined by 32bps in the first quarter over the last quarter of 2019. I'm expecting NIM to contract further because a majority of the impact of the March rate cuts will get realized in the second quarter. The LIBOR remained elevated in March before trending down in May at a lag to the federal funds rate, as shown below.YChartsAround 41.5% of total loans are directly linked to LIBOR, as mentioned in the first quarter'sinvestor presentationconfere
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SNV
News
- Finacity Facilitates a USD 30 Million Receivables-Based Loan Program for Novaria Holdings LLC with Synovus Bank [Yahoo! Finance]Yahoo! Finance
- Synovus to announce first quarter 2024 earnings resultsBusiness Wire
- Should Income Investors Look At Synovus Financial Corp. (NYSE:SNV) Before Its Ex-Dividend? [Yahoo! Finance]Yahoo! Finance
- Goldman closes GreenSky sale, and Synovus sees an edge [Yahoo! Finance]Yahoo! Finance
- GreenSky Announces Completion of Acquisition by Sixth Street-led Consortium [Yahoo! Finance]Yahoo! Finance
SNV
Earnings
- 1/17/24 - Miss
SNV
Sec Filings
- 3/12/24 - Form ARS
- 3/12/24 - Form DEFA14A
- 3/12/24 - Form DEF
- SNV's page on the SEC website