| Wednesday | ||||
Meetings to be held in… Meetings to be held in New York on February 25 and in Boston on February 26 hosted by Piper Sandler. | ||||
| Tuesday | ||||
Meetings to be held in… Meetings to be held in New York on February 25 and in Boston on February 26 hosted by Piper Sandler. | ||||
| Over a week ago | ||||
Meetings to be held in… Meetings to be held in New York on February 25 and in Boston on February 26 hosted by Piper Sandler. | ||||
| Over a month ago | ||||
SunTrust analyst Jennifer… SunTrust analyst Jennifer Demba lowered her price target on Synovus to $42 after its Q4 earnings miss and also lowered her FY20 and FY21 EPS views by 22c and 23c to $3.42 and $3.64 respectively. The analyst notes that her revisions are driven by the bank's higher expenses and loan loss provisions in the quarter, with the company also having hired a "significant" amount of new talent amid its further investment in technology. Demba adds that positive operating leverage is unlikely for Synovus until 2021, but she keeps her Buy rating and contends that the weakness in the stock price presents a buying opportunity. | ||||
Raymond James analyst… Raymond James analyst Michael Rose downgraded Synovus to Outperform from Strong Buy with a price target of $41, down from $46, following Q4 results that fell short of his forecast and consensus and where its guidance points to a higher expense run rate than previously projected. Specifically, Rose says Synovus' management has engaged Boston Consulting Group to evaluate and implement new revenue and efficiency initiatives to improve operational performance. He adds that while management has been successful with past initiatives, and he has no reason to doubt its success with its new initiatives, the efficiency ratio was notably higher and the opportunity for improvement greater. | ||||
HIGHER: Changyou.com… HIGHER: Changyou.com (CYOU), up 8% after entering into a merger agreement with Sohu Game, an indirectly wholly-owned subsidiary of Sohu.com (SOHU). The company will be acquired by the Sohu Group in an all-cash transaction implying an equity value of the company of approximately $579M... Broadcom (AVGO), up 3% after announcing that certain of its subsidiaries have entered into two separate multi-year statement of work agreements with Apple (AAPL). Both are for the supply of a range of specified high-performance wireless components and modules to Apple for use in its products. UP AFTER EARNINGS: American Express (AXP), up 2%... Intel (INTC), up 4%... Atlassian (TEAM), up 8%. DOWN AFTER EARNINGS: Synchrony (SYF), down 5%... Synovus (SNV), down 1%... Ericsson (ERIC), down 7%... Discover (DFS), down 7%. ALSO LOWER: Epizyme (EPZM), down 4% after SVB Leerink analyst Andrew Berens downgraded shares to Market Perform from Outperform with a price target of $18, up from $16, following the approval of Tazverik in epithelioid sarcoma. In a research note to investors, Berens says he believes the approval was widely anticipated by the market following the unanimous FDA advisory committee vote and that the tangible fundamental opportunities for the drug are fully baked-in. | |
Effective with the… Effective with the quarterly dividend payable in April 2020. | |
Reports Q4 provision for… Reports Q4 provision for loan losses $24.47M vs. $12.15M a year ago. Reports Q4 net charge-offs $8.8M vs. $13.0M a year ago. Reports Q4 NII $399.27M vs. $297.93M a year ago. Tangible book value per common share was $26.17 at quarter end vs. $25.65 at previous quarter end. | |
Meeting to be held in… Meeting to be held in Baltimore, MD on January 23 hosted by Stephens. | |
Meeting to be held in… Meeting to be held in Baltimore, MD on January 23 hosted by Stephens. |