Zions Bancorporation, National Association Outlook
Description
Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services. As of December 31, 2020, it operated 422 branches, which included 273 owned and 149 leased. The company was formerly known as ZB, National Association and changed its name to Zions Bancorporation, National Association in September 2018. Zions Bancorporation, National Association was founded in 1873 and is headquartered in Salt Lake City, Utah.
SALT LAKE CITY , April 26, 2024 /PRNewswire/ -- Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that its board of directors ("board") declared a regular quarterly dividend of $0.41 per common share, payable May 23, 2024, to shareholders of record at the close of business on May 16, 2024.
1Q24 earnings report showed a higher NII/NIM. Deposits fell 1% Q/Q due to seasonal reasons, but steady loan growth was recorded. Credit quality remains high while management offered an improved outlook on NIM and rates trend.
Shares of Zions Bancorporation (ZION) advanced in intraday trading Monday as the regional bank posted better-than-expected revenue and reduced the money it set aside for bad loans.
We again have an eventful week for the stock market. As the S&P 500 tries to shake its three-week losing streak, we see sky-high valuations and record-high closings have given way to a more concerned, meditative trading sentiment.
Much of what concerns us will have been addressed by the end of the week, including important economic reports and Q1 earnings season hitting a higher gear.
The headline numbers for Zions (ZION) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
SALT LAKE CITY , April 22, 2024 /PRNewswire/ -- Zions Bancorporation, N.A. (NASDAQ: ZION) ("Zions" or "the Bank") today reported net earnings applicable to common shareholders for the first quarter of 2024 of $143 million, or $0.96 per diluted common share, compared with net earnings applicable to common shareholders of $198 million, or $1.33 per diluted common share, for the first quarter of 2023, and net earnings applicable to common shareholders of $116 million, or $0.78 per diluted common share, for the fourth quarter of 2023.
Besides Wall Street's top -and-bottom-line estimates for Zions (ZION), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2024.
Zions' (ZION) top line is likely to grow given the solid loans and deposit balances, fee-income strength, high rates and asset-yield repricing. However, mounting expenses and weak asset quality are woes.
Zions (ZION) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.