Zions Bancorporation Reports Third Quarter 2024 Financial Results
Zions Bancorporation, N.A. (NASDAQ: ZION) has announced its financial results for the third quarter of 2024, showcasing a solid performance with notable improvements in key financial metrics.
Key Financial Metrics:
| Metric | Q3 2024 | Q3 2023 | Q2 2024 | YoY Change | QoQ Change | Consensus Estimates |
|---|---|---|---|---|---|---|
| Total Revenue | Not specified | Not specified | Not specified | Not specified | Not specified | $765.52M |
| Earnings Per Share (EPS) | $1.37 | $1.13 | $1.28 | +21% | +7% | $0.88 |
Zions Bancorporation reported a 21% year-over-year increase in earnings per share, reaching $1.37, surpassing the consensus estimate of $0.88. This growth reflects the bank's strengthened net interest margin and controlled operating costs.
Revenue Performance by Segment:
| Segment | Revenue | Previous Guidance | YoY Change | QoQ Change |
|---|---|---|---|---|
| Not specified | Not specified | Not specified | Not specified | Not specified |
The company did not provide a detailed breakdown of revenue performance across major segments or comparisons to previous guidance.
Operational Data:
No additional operational data was provided in the earnings release.
Comments from Company Officers:
Harris H. Simmons, Chairman and CEO, expressed satisfaction with the financial performance, highlighting the improvement in net interest margin and the stability of noninterest-bearing demand deposits. He also noted the increase in classified loans but reassured that credit losses remain well controlled.
Dividends and Share Repurchase Program:
The earnings release did not mention any announcements regarding dividends or share repurchase programs.
Forward Guidance:
The company did not provide specific forward guidance in the earnings release.
Stock Price Movement:
Following the earnings release, Zions Bancorporation's stock experienced a decline of approximately 1.86%.
For more detailed financial information and the full earnings release, visit Zions Bancorporation's website .
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