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INX:ZION, Oct 30, 04:47 UTC

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Monday, July 20


News

Zions Bancorporation (ZION) Q2 2020 Earnings Call Transcript

ZION HRS

We welcome you to this conference call to discuss our 2020 second quarter earnings. For our agenda today, Harris Simmons, Chairman and Chief Executive Officer, will provide a brief overview of key strategic and financial performance; after which Ed Schreiber, Our Chief Risk Officer, will review the condition of the loan portfolio, the allowance for credit loss and the way in which we are engaging with our customers during this period of economic disruption. To help put the recession in perspective, we've included the average of those same credit ratios in global financial crisis 2008 to 2009 and during the oil and gas downturn 2015-'16, noted in the tax, loans on federal status reached 8.5% of loans, excluding PPP loans. The stability of the other loans, which again represents 86% of the total non-PPP loan portfolio is encouraging. Keep note of the strong growth in residential mortgage fees this year while areas of weakness included retail fees largely due to waves of non-sufficient fund fees as we work to support our customers in this difficult environment and declines in card-related revenue and loan syndication fees due to reduced business activity. While activity appear to improve as we approach the end of the second quarter, the economic environment remains too uncertain to predict stabilization in these trends. As shown on Slide 18, the decline in non-interest expense reflects our ongoing efforts to reduce expenses and streamline operations. As previously disclosed, reported non-interest expense in the second quarter included non-recurring expenses incurred in conjunction with the termination of our defined benefit pension plan.

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Friday, July 17


News

Zions (ZION) to Report Q2 Earnings: What's in the Cards?

ZION

In addition, management expects the yield on earning assets to decline, which will reflect the reduction in interest rates in March.Other Factors to Influence Zions’ Q2 ResultsFee Revenues Did Not Offer Much Support: Historically low mortgage rates are expected to have led to a significant rise in refinancing activities during the second quarter. However, new mortgage originations was muted. Further, management expects net charge-offs to increase.What Our Quantitative Model PredictsAccording to our quantitative model, chances of Zions beating the Zacks Consensus Estimate are low this time around. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: The Earnings ESP for Zions is -10.36%.Zacks Rank: The company currently carries a Zacks Rank #3. The figure has been revised 9.8% downward over the past seven days.The consensus estimate for the company’s sales is pegged at $694.1 million, which indicates a decline of 1% from the prior-year reported figure.Stocks That Warrant a LookHere are some bank stocks that you may want to consider as these have the right combination of elements to post an earnings beat in their upcoming releases.Bank OZK OZK is slated to release quarterly results on Jul 23.

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Thursday, June 25


News

Zions Bancorporation Elects Claire A. Huang to Its Board of Directors, Announces Retirement of Jerry C. Atkin

ZION

SALT LAKE CITY--(BUSINESS WIRE)--Zions Bancorporation (Nasdaq: ZION) today announced that Claire A. Huang has been elected to its board of directors, effective July 1, 2020. “She brings extensive experience in financial services marketing and digital transformation and optimization that will be highly valuable to Zions Bancorporation as we continue to build a strong foundation for future growth. Mr. Simmons noted that Mr. Atkin had served the Company with distinction since his election to the Board in 1993, and has served on or chaired the Audit, Compensation, and Nominating and Governance Committees. “Over his remarkable career, Jerry Atkin built SkyWest, a St. George, Utah-based airline with three nine-passenger aircraft and 13 employees, into the nation’s leading regional airline, with a fleet of nearly 500 airplanes and over 14,000 employees, carrying 43 million passengers annually to destinations throughout the nation.

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Wednesday, May 27


News

Zions Bancorporation to Build Technology Campus in Midvale, Utah With a Focus on Sustainability and Cost Efficiency

ZION

Zions Bancorporation to Build Technology Campus in Midvale, Utah With a Focus on Sustainability and Cost Efficiency. (NASDAQ: ZION) today announced that it will build a 400,000-square-foot technology campus in Midvale, Utah, on the former Sharon Steel Mill Environmental Protection Agency Superfund site. View the full release here: https://www.businesswire.com/news/home/20200527005604/en/. As one of Utah’s largest technology employers, Zions will accommodate more than 2,000 employees at this location and be built to respond to changing work patterns in the years ahead. "Zions Bancorporation’s Enterprise Technology and Operations division has been making industry-leading investments in its core banking systems while also delivering a variety of state-of-the-art digital banking capabilities. This environment-friendly campus will help us attract the best technology talent in the country while also reducing our overall facilities costs," said Zions Bancorporation Chairman and CEO Harris H. Simmons.

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Thursday, March 05


News

The Zacks Analyst Blog Highlights: Bank of America, Citigroup, Trust Financial, Zions and M&T Bank

ZION MTB +2 more ZION MTB BAC C

Stocks recently featured in the blog include: Bank of America BAC, Citigroup C, Trust Financial TFC, Zions Bancorporation ZION and M&T Bank MTB. In a press conference following the announcement, Fed Chairman Jerome Powell said “My colleagues and I took this action to help the U.S. economy keep strong in the face of new risks to the economic outlook. At that time, most banks had projected a flat to modest decline in net interest income (NII), partially offset by decent loan demand. But now with one rate cut and more on the horizon, and less demand for loans, NII is expected to be further affected. In fact, diversification could turn out to be a negative factor. Therefore, banks with only domestic operations like Trust Financial, Zions Bancorporation and M&T Bank could turn out to be better investing options.

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Wednesday, January 22


News

Zions Bancorporation NA (NASDAQ:ZION) Stock Rating Lowered by Bank of America – Tech Know Bits

ZION

Robert W. Baird downgraded shares of Zions Bancorporation NA from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $49.00 to $46.00 in a report on Tuesday, December 3rd. During the same quarter in the previous year, the company earned $1.08 earnings per share. As a group, equities research analysts expect that Zions Bancorporation NA will post 4.31 EPS for the current year. In other Zions Bancorporation NA news, insider Jennifer Anne Smith sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. Point72 Asset Management L.P. now owns 977,708 shares of the bank’s stock valued at $43,528,000 after purchasing an additional 749,108 shares during the last quarter.

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Monday, January 20


News

Dismal Lending, Low Rates to Hurt Zions (ZION) in Q4 Earnings

ZION

Dismal Lending, Low Rates to Hurt Zions (ZION) in Q4 Earnings. Per the Fed’s latest data, the fourth quarter witnessed a decline in commercial and industrial loans (constituting a large part of the company’s loan portfolio). The Zacks Consensus Estimate for the same is pegged at $139 million, which indicates a decline of nearly 1% sequentially.Given the expectation of a decline in total customer-related fees (accounting for more than 95% of total fee revenues), total fee revenues are likely to have been negatively impacted.The consensus estimate for total non-interest income for the fourth quarter is pegged at $145 million, which indicates a marginal decline from the prior quarter’s reported number.Expenses likely to rise modestly: Despite undertaking several cost-control initiatives, Zions has been witnessing an increase in non-interest expenses over the past few quarters. Zacks’ just-released special report reveals 8 stocks to watch.

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Thursday, January 09


News

How Did Zions Bancorporation, National Association (ZION) Compare Against Hedge Fund Darlings in 2019?

ZION

It has been a fantastic year for equity investors as Donald Trump pressured Federal Reserve to reduce interest rates and finalized the first leg of a trade deal with China. If you were a passive index fund investor, you had seen gains of 31% in your equity portfolio in 2019. However, if you were an active investor putting your money into hedge funds' favorite stocks, you had seen gains of more than 41%. Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' large-cap stock picks indeed failed to beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the Russell 2000 ETFs by 40 percentage points since May 2014 (see the details here). This December, we recommended Adams Energy as a one-way bet based on an under-the-radar fund manager's investor letter and the stock is still extremely cheap despite already gaining 20 percent.

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Wednesday, December 04


News

Is Zions Bancorporation (ZION) A Good Stock To Buy ?

ZION

Video: Click the image to watch our video about the top 5 most popular hedge fund stocks. So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Unlike the largest US hedge funds that are convinced Dow will soar past 40,000 or the world's most bearish hedge fund that's more convinced than ever that a crash is coming, our long-short investment strategy doesn't rely on bull or bear markets to deliver double digit returns. Judging by the fact that Zions Bancorporation (NASDAQ:ZION) has witnessed falling interest from the aggregate hedge fund industry, logic holds that there exists a select few funds that decided to sell off their full holdings by the end of the third quarter.

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Monday, December 02


News

Zions (ZION) Stock Rallies 22.2% YTD: Is More Upside Left?

ZION

Last year, the company’s shares had lost 19.8%, mainly due to several concerns including the U.S.-China trade war, uncertainty related to the Brexit, changing yield curve and expectations of global economic slowdown.Additionally, this Zacks Rank #3 (Hold) stock has been witnessing upward earnings estimate revisions. Over the past 60 days, the Zacks Consensus Estimate has moved 1.9% and 1.1% north for 2019 and 2020, respectively. While past performance does not guarantee a similar trend in the future, we believe the following factors are adequate to support steady price appreciation for Zions:Revenue Growth: Revenue growth is a key strength for Zions. Also, the company’s non-interest-bearing deposits, which constituted 42.3% of total deposits as of Sep 30, 2019, support its financials.Moreover, Zions’ efforts to efficiently deploy the capital generated from deposits and rise in loan demand will aid revenue growth in the near term. In July, the bank raised its quarterly dividend, marking the fourth hike over the past year.Driven by strong liquidity position and consistently improving earnings, the company’s capital deployment activities look sustainable.Stock Seems Undervalued: The company looks undervalued, with respect to its price/earnings (P/E) (F1) and price/book (P/B) ratios.

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