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0.00105152471083068 0 -0.00902208201892734 -0.00762355415352259 -0.0115667718191377 -0.00157728706624593 -0.00315457413249205 -0.00998948475289157
Stock impact report

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 Check Earnings Report
US:NYSE Investor Relations: investor.synovus.com
Company Research 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 Show less Read more
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