Zions reported second-quarter earnings per share of $1.74, beating the Zacks Consensus Estimate of $1.57 by 10.83%. Revenue came in at $879 million, a 3.3% year-over-year increase but slightly below the $879.16 million consensus. Key metrics included an efficiency ratio of 62.2%, net interest margin of 3.3%, and total noninterest income of $460 million, which was more than double the $189.81 million analyst estimate. Average interest-earning assets reached $84.35 billion, while total nonperforming assets were $298 million, both better than expected. The stock has returned 9.2% over the past month and carries a Zacks Rank #2, or Buy.
Zions BancorporationZions reported Q2 EPS of $1.74, beating estimates by 10.83%, with better-than-expected nonperforming assets and efficiency ratio.