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Zions’ Interest and Non-Interest Income Rose in 3Q15

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Oct. 21 2015, Published 8:49 a.m. ET

Zions’ price movement

Zions Bancorp (ZION) has a market cap of $5.7 billion. Its YTD (year-to-date) price movement is a mix of ups and downs in 2015. After the earnings report in 3Q15, it fell by 0.89% to close at $27.90 per share as of October 19, 2015. The price movement on a weekly, monthly, and YTD basis is -2.0%, 1.6%, and -1.6%, respectively.

Technically, it has broken the major support. It’s trading below all of the moving day averages. Currently, it’s trading at -0.14% below the 20-day moving average, -2.2% below the 50-day moving average, and -1.6% below the 200-day moving average.

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The First Trust NASDAQ ABA Community Bank ETF (QABA) invests 3.4% of its holdings in Zions. QABA tracks an index of NASDAQ-listed banks and thrifts, excluding the 50 largest. QABA’s YTD price movement is 6.5% as of October 16, 2015. The PowerShares KBW Bank Portfolio (KBWB) invests 1.6% of its holdings in Zions.

Zions’ competitors and their market caps are:

  • M&T Bank (MTB) – $15.1 billion
  • Huntington Bancshares (HBAN) – $8.6 billion
  • Commerce Bancshares (CBSH) – $4.1 billion
  • First Horizon National (FHN) – $3.2 billion

Zions’ performance in 3Q15

The company reported net interest income of $456.2 million in 3Q15—a rise of 0.21% on a quarterly basis. The revenue from interest and fees on loans fell to 0.15%. The revenue from interest money market investments and interest on securities rose by 4.0% and 4.9% in 3Q15. The non-interest income rose to $130.8 million in 3Q15 compared to the non-interest income of $421 million in 2Q15. The non-interest income from services charges and fees on deposit accounts and commissions and fees rose by 3.8% and 2.1%. The non-interest income from wealth management, loan sales and servicing income, capital markets, and dividends fell by 8.1%, 7.8%, 8.9%, and 9.6% in 3Q15. The net income and EPS rose to $101 million and $0.41 per share in 3Q15—compared to the net income and EPS of $14 million and -$0.01 per share in 2Q15. The non-performing assets fell by 3.6% in 3Q15.

On July 16, 2015, the company declared a regular quarterly dividend of $0.06 per share on Zions common stock.

About Zions

Zions is a financial services company. It provides small administration lending and public finance advisory services.

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