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Zions Bancorp

All articles tagged with #zions bancorp

finance2 years ago

Truist's Mixed Earnings and Higher Deposit Costs Impact Regional Banks

Truist Financial, a regional bank, reported a 15% decline in earnings for Q2, missing estimates, while Zions Bancorp saw a 14% drop in earnings but beat analyst forecasts. Truist's revenue rose 5.1% and it expects a 4% decline in revenue for Q3. Zions reported a 1.9% increase in revenue and saw customer deposits grow by $2 billion. Regional bank stocks have been mostly positive this week, with the SPDR S&P Regional Banking ETF surging 8.9% and 15% for the month.

via Investor's Business Daily|
#earnings#finance#regional-banks
business2 years ago

"Netflix, Tesla, IBM, and More: After-Hours Stock Surges and Plunges"

Netflix shares dropped over 5% after reporting quarterly results, with uncertainty surrounding the impact of its password sharing crackdown and ad-supported revenue. IBM shares fell 0.7% after posting mixed second-quarter earnings, missing revenue expectations but surpassing earnings estimates. Tesla shares remained steady after reporting record-high revenue but a decline in operating margins due to price cuts and incentives. United Airlines saw a 2.5% increase in shares after beating analysts' expectations for earnings and revenue, despite flight disruptions. Zions Bancorp stock rallied 7% as its earnings results exceeded estimates. Discover Financial shares plunged 13% as its second-quarter results fell short of analysts' estimates, and the company disclosed discussions with regulators over a "card product misclassification" issue.

via CNBC|
#business#ibm#netflix
business2 years ago

Tesla Dominates Stock Market with Impressive Performance and Deliveries

Tesla led the top gainers in the S&P 500 index on Monday, with its stock surging 6.9% to a nine-month high. The company reported strong second-quarter deliveries, surpassing estimates. Fidelity National Information Services and Zions Bancorp also saw significant gains. The S&P 500 edged up 0.1% in a half-day market session ahead of the Fourth of July holiday.

via Investor's Business Daily|
#business#fidelity-national-information-services#sandp-500
finance2 years ago

PacWest Bank to Sell $2.6 Billion in Real Estate Loans, Sparks Stock Rally.

PacWest Bancorp's stock rose 21% after announcing the sale of a $2.6 billion portfolio of 74 real-estate-construction loans to refocus on its core community-banking business. The move sparked a rally in regional-bank stocks, with Hovde Group initiating coverage of Zions Bancorp with a bullish outperform rating. The sale of the loans is subject to Kennedy Wilson's satisfactory due diligence and is expected to close in several tranches in the second and third quarters. PacWest shares are down 73% in the year to date, caught up in the turmoil created by bank failures.

via MarketWatch|
#finance#kennedy-wilson-holdings#pacwest-bancorp
finance2 years ago

US Regional Banks Struggle with Lost Deposits and Stock Slides.

The stocks of KeyCorp, Comerica, and Zions Bancorp fell after all three reported a drop in deposits and weaker-than-expected quarterly results, as regional banks sustained collateral damage from the collapse of Silicon Valley Bank. Banks that have reported so far have seen deposits drop by about 2% in the quarter, less than the 3% to 3.5% rate suggested by recent Fed data. To win more positive sentiment from investors, it may be necessary for deposit stability to continue for another quarter or two.

via MarketWatch|
#comerica#deposits#finance