Latest Zions Bancorporation (ZBK) company news
Score: Negative (2)
100 days at current score.
Downgraded from Neutral on March 16th 2018
- This company ranked negatively compared to the Financials sector with 2 negative IHS Markit Categories
- ETFs holding this stock have seen outflows over the last one-month
- Bearish sentiment is moderate and increasing
Short interest | Negative
Short interest is moderately high for ZION with between 10 and 15% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on June 6.
ETF/Index ownership | Negative
There is no ETF activity data available for this security.
PMI by IHS Markit | Neutral
According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however.
Credit default swap
CDS data is not available for this security.
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SALT LAKE CITY, June 21, 2018 /PRNewswire/ -- Zions Bancorporation (ZION) announced today the results of its internal stress test exercise as well as results communicated to the Company by the Federal Reserve Board with respect to the Federal Reserve's stress test of Zions' financial and capital strength. In prior years, the Federal Reserve Board of Governors has released the results of its own Dodd-Frank Act stress tests ("DFAST") for Zions Bancorporation and other regional and larger banks. However, in accordance with the Economic Growth, Regulatory Relief and Consumer Protection Act of 2018 which was recently signed into law, Zions Bancorporation and other bank holding companies with assets of less than $100 billion are at this point in time no longer subject to the Federal Reserve's DFAST protocols. The Federal Reserve has determined, accordingly, that it will not publicly release the results of its stress test for Zions Bancorporation, but has authorized Zions to publish the Federal Reserve's results as communicated to the Company earlier today. The results of both stress tests reflect DFAST capital actions as defined in relevant regulations.
In April, Zions Bancorporation submitted the results of its own internal stress tests to regulators in accordance with then-current regulations. Those results have been posted to the Company's website, and can be found at zionsbancorporation.com under "News and Events – Stress Test Results."
In summary, the resulting stress test capital ratios under the Supervisory Severely Adverse scenario for the nine-quarter period ending March 31, 2020 are as follows:
Nine-Quarter Minimum Ratios
Federal Reserve Stress Test Results
Zions Bancorporation Stress Test Results
Regulatory Minimum Capital Ratios
Common Equity Tier 1
Tier 1 Risk-based Capital
Total Risk-based Capital
Tier 1 Leverage Ratio
Harris H. Simmons, Chairman and CEO of Zions Bancorporation, said, "The results of both the Federal Reserve's and our own internal stress tests under the 2018 Supervisory Severely Adverse scenario demonstrate Zions' ample capital position, and are supportive of the Company's ability to increase its total capital payout ratio relative to payout levels actually achieved over the course of the twelve-month period ending June 30, 2018." Mr. Simmons noted that the timing, composition and amount of all capital distributions are subject to the approval of the Company's board of directors after evaluating market and economic conditions and Company-specific factors, including but not limited to earnings and credit trends and investment needs and opportunities, including capital required to support expected growth.
This disclosure contains statements relating to a stress test and analysis undertaken by Zions Bancorporation. The stress test results are based upon the hypothetical impact of assumed future economic conditions on our capital, financial condition, and earnings under certain financial models. The stress test results are not intended to reflect our expectations about actual future conditions. Factors that might cause our understanding of the stress test results to change include detailed analyses of the multiple factors involved in the stress test and changes to the underlying economic assumptions that drive the stress test results. Accordingly, the statements contained in this disclosure are based on facts and circumstances as understood by management of the Company on the date of this disclosure, which may change in the future.
Statements in this press release that are based on other than historical data or that express the Company's expectations regarding future events are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that could cause actual events to differ materially from those expressed in or implied by the forward-looking statements include the Company's actual future financial condition and performance, future general economic conditions, as well as other factors that are discussed in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission ("SEC") and available at the SEC's Internet site (http://www.sec.gov). Except as required by law, Zions disclaims any obligation to update any statements or to publicly announce future internal stress test results or the results of any revisions to any of the forward-looking statements included herein to reflect future events, developments, determinations, or understandings.
About Zions Bancorporation
Zions Bancorporation is one of the nation's premier financial services companies with total assets exceeding $65 billion. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The company is a national leader in Small Business Administration lending and public finance advisory services, and is a consistent top recipient of Greenwich Excellence awards in banking. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.
SAN DIEGO, June 15, 2018 /PRNewswire/ -- California Bank & Trust (CB&T), as part of Zions Bancorporation, announced today that it received 16 Greenwich Excellence Awards for achievement in Middle-Market and Small Business banking for the year ended 2017. Since the Awards' began in 2009, only three other U.S. banks have consistently received as many Greenwich Excellence Awards as CB&T and its parent company.
The Greenwich Excellence Awards evaluate more than 600 banks to identify industry leaders. Of those banks, only 43 were cited for distinctive quality in middle market banking and 33 in small business banking.
"We are honored to have once again been recognized by these Greenwich Excellence Awards, based on direct feedback from our valued clients," said Eric Ellingsen, president and chief operating officer of California Bank & Trust. "We strive to consistently provide the best products and exceptional customer service, and these awards further validate the dedication and hard work of our entire team."
The Awards are based on more than 30,000 market research interviews with business banking and middle market executives at companies nationwide. They recognize the country's top firms for exceptional quality, client experience, sales leadership and overall excellence.
Greenwich Associates is a leading global financial services research and consulting firm for investment banks, commercial banks and asset managers. The annual Greenwich Excellence Awards are highly regarded in the financial services industry as an acknowledgment of quality client services and overall strength among leading banks.
California Bank & Trust, as part of Zions Bancorporation, received awards in the following categories:
Middle Market ($10-$500 million in annual sales)
- Overall Satisfaction
- Overall Satisfaction with Relationship Manager
- Proactively Provides Advice
- Industry Expertise
- Overall Client Satisfaction – West
- Proactively Provides Advice – West
- Cash Management - Overall Satisfaction
- Cash Management - Overall Satisfaction with Cash Management Specialist
- Cash Management - Accuracy of Operations
- Cash Management - Product Capabilities
- Cash Management - Customer Service
- Cash Management - Online Banking Functionality
- Cash Management - Overall Digital Experience
- Cash Management - Client Satisfaction – West
- Cash Management - Overall Digital Experience – West
Small Business ($1-$10 million in annual sales)
- Overall Satisfaction - West
About California Bank & Trust
For more than 60 years, California Bank & Trust (CB&T) has provided Californians with financial guidance from experienced, professional bankers. In 2017, readers of The San Diego Union-Tribune voted CB&T as the region's "Best Bank" for the seventh consecutive year and as the "Best Commercial Bank" for the fourth year in a row. That same year, readers of The Orange County Register voted for CB&T as the county's "Best Bank." Locally managed CB&T, a division of Zions Bancorporation (ZION), has more than $11 billion in assets, nearly 100 branches statewide and is a leader among California banks for service levels and product selection. CB&T provides a full array of financial solutions for businesses and individuals, including commercial banking, business banking, small business lending, treasury management, international banking and wealth management. The professional bankers at CB&T are backed by major resources, yet maintain local decision-making authority and regional market and industry expertise. The company is committed to providing clients with valuable business and economic insights and connecting them with the beneficial business relationships they need to succeed. As part of Zions Bancorporation, CB&T maintains its historical Middle-Market National Distinction in Overall Customer Satisfaction, Likelihood to Recommend as a banking partner and Cash Management Overall Customer Satisfaction and Cash Management Customer Service with the Greenwich Excellence Awards. To learn more, visit www.calbanktrust.com. Connect with California Bank & Trust on Facebook, Twitter and LinkedIn.
About Zions Bancorporation
Zions Bancorporation is one of the nation's premier financial services companies with total assets exceeding $65 billion. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices.
About Greenwich Excellence Awards
In compiling these rankings, Greenwich Associates interviewed over 15,000 middle-market firms with sales of $10-$500 million, and more than 15,000 small businesses with sales of $1-$10 million across the country. Respondents were asked to name the banks they used and to rate these providers in a variety of product and service categories. Banks that received customer ratings that topped those of competitors by a statistically significant margin at a 95 percent confidence level were named Greenwich Excellence Award Winners.
View original content with multimedia:http://www.prnewswire.com/news-releases/california-bank--trust-receives-sixteen-greenwich-excellence-awards-for-2017-300667040.html
NEW YORK, June 11, 2018 (GLOBE NEWSWIRE) -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Jabil, Inc. (JBL), Gladstone Investment Corporation (GAIN), Spero Therapeutics, Inc. (SPRO), Jagged Peak Energy Inc. (JAG), Sabre Corporation (SABR), and Zions Bancorporation (ZION), including updated fundamental summaries, consolidated fiscal reporting, and fully-qualified certified analyst research.
Complimentary Access: Research Reports
Full copies of recently published reports are available to readers at the links below.
JBL DOWNLOAD: http://Fundamental-Markets.com/register/?so=JBL
GAIN DOWNLOAD: http://Fundamental-Markets.com/register/?so=GAIN
SPRO DOWNLOAD: http://Fundamental-Markets.com/register/?so=SPRO
JAG DOWNLOAD: http://Fundamental-Markets.com/register/?so=JAG
SABR DOWNLOAD: http://Fundamental-Markets.com/register/?so=SABR
ZION DOWNLOAD: http://Fundamental-Markets.com/register/?so=ZION
(You may have to copy and paste the link into your browser and hit the [ENTER] key)
The new research reports from Fundamental Markets, available for free download at the links above, examine Jabil, Inc. (JBL), Gladstone Investment Corporation (GAIN), Spero Therapeutics, Inc. (SPRO), Jagged Peak Energy Inc. (JAG), Sabre Corporation (SABR), and Zions Bancorporation (ZION) on a fundamental level and outlines the overall demand for their products and services in addition to an in-depth review of the business strategy, management discussion, and overall direction going forward. Several excerpts from the recently released reports are available to today's readers below.
Important Notice: the following excerpts are not designed to be standalone summaries and as such, important information may be missing from these samples. Please download the entire research report, free of charge, to ensure you are reading all relevant material information. All information in this release was accessed June 8th, 2018. Percentage calculations are performed after rounding. All amounts in millions (MM), except per share amounts.
JABIL, INC. (JBL) REPORT OVERVIEW
Jabil's Recent Financial Performance
For the three months ended February 28th, 2018 vs February 28th, 2017, Jabil reported revenue of $5,301.10MM vs $4,445.64MM (up 19.24%) and basic earnings per share $0.21 vs $0.11 (up 90.91%). For the twelve months ended August 31st, 2017 vs August 31st, 2016, Jabil reported revenue of $19,063.12MM vs $18,353.09MM (up 3.87%) and basic earnings per share $0.71 vs $1.33 (down 46.62%). Jabil is expected to report earnings on June 14th, 2018. The report will be for the fiscal period ending May 31st, 2018. The reported EPS for the same quarter last year was $0.21. The estimated EPS forecast for the next fiscal year is $2.45 and is expected to report on September 26th, 2018.
To read the full Jabil, Inc. (JBL) report, download it here: http://Fundamental-Markets.com/register/?so=JBL
GLADSTONE INVESTMENT CORPORATION (GAIN) REPORT OVERVIEW
Gladstone Investment's Recent Financial Performance
For the three months ended March 31st, 2018 vs March 31st, 2017, Gladstone Investment reported revenue of $15.42MM vs $12.36MM (up 24.71%) and basic earnings per share $0.67 vs $0.31 (up 116.13%). For the twelve months ended March 31st, 2018 vs March 31st, 2017, Gladstone Investment reported revenue of $58.36MM vs $51.88MM (up 12.49%) and basic earnings per share $1.88 vs $1.48 (up 27.03%). Gladstone Investment is expected to report earnings on August 7th, 2018. The report will be for the fiscal period ending June 30th, 2018. The reported EPS for the same quarter last year was $0.17. The estimated EPS forecast for the next fiscal year is $0.79 and is expected to report on May 21st, 2019.
To read the full Gladstone Investment Corporation (GAIN) report, download it here: http://Fundamental-Markets.com/register/?so=GAIN
SPERO THERAPEUTICS, INC. (SPRO) REPORT OVERVIEW
Spero Therapeutics' Recent Financial Performance
For the three months ended March 31st, 2018 vs March 31st, 2017, Spero Therapeutics reported revenue of $1.15MM vs $0.14MM (up 723.57%) and basic earnings per share -$0.74 vs -$21.60. For the twelve months ended December 31st, 2017 vs December 31st, 2016, Spero Therapeutics reported revenue of $1.98MM vs $0.34MM (up 490.75%) and basic earnings per share -$17.82 vs -$95.87. Spero Therapeutics is expected to report earnings on August 9th, 2018. The report will be for the fiscal period ending June 30th, 2018. The estimated EPS forecast for the next fiscal year is -$4.48 and is expected to report on April 1st, 2019.
To read the full Spero Therapeutics, Inc. (SPRO) report, download it here: http://Fundamental-Markets.com/register/?so=SPRO
JAGGED PEAK ENERGY INC. (JAG) REPORT OVERVIEW
Jagged Peak Energy's Recent Financial Performance
For the three months ended March 31st, 2018 vs March 31st, 2017, Jagged Peak Energy reported revenue of $129.05MM vs $39.39MM (up 227.65%) and basic earnings per share -$0.18 vs -$0.42. Jagged Peak Energy is expected to report earnings on August 8th, 2018. The report will be for the fiscal period ending June 30th, 2018. The reported EPS for the same quarter last year was $0.05. The estimated EPS forecast for the next fiscal year is $0.74 and is expected to report on March 28th, 2019.
To read the full Jagged Peak Energy Inc. (JAG) report, download it here: http://Fundamental-Markets.com/register/?so=JAG
SABRE CORPORATION (SABR) REPORT OVERVIEW
Sabre's Recent Financial Performance
For the three months ended March 31st, 2018 vs March 31st, 2017, Sabre reported revenue of $988.37MM vs $915.35MM (up 7.98%) and basic earnings per share $0.32 vs $0.28 (up 14.29%). For the twelve months ended December 31st, 2017 vs December 31st, 2016, Sabre reported revenue of $3,598.48MM vs $3,373.39MM (up 6.67%) and basic earnings per share $0.87 vs $0.87 (unchanged). Sabre is expected to report earnings on August 7th, 2018. The report will be for the fiscal period ending June 30th, 2018. The reported EPS for the same quarter last year was $0.32. The estimated EPS forecast for the next fiscal year is $1.40 and is expected to report on February 13th, 2019.
To read the full Sabre Corporation (SABR) report, download it here: http://Fundamental-Markets.com/register/?so=SABR
ZIONS BANCORPORATION (ZION) REPORT OVERVIEW
Zions' Recent Financial Performance
For the three months ended March 31st, 2018 vs March 31st, 2017, Zions reported interest income of $589.00MM vs $515.00MM (up 14.37%) and basic earnings per share $1.16 vs $0.63 (up 84.13%). For the twelve months ended December 31st, 2017 vs December 31st, 2016, Zions reported interest income of $2,192.00MM vs $1,954.00MM (up 12.18%) and basic earnings per share $2.71 vs $2.00 (up 35.50%). Zions is expected to report earnings on July 24th, 2018. The report will be for the fiscal period ending June 30th, 2018. The reported EPS for the same quarter last year was $0.73. The estimated EPS forecast for the next fiscal year is $4.16 and is expected to report on January 28th, 2019.
To read the full Zions Bancorporation (ZION) report, download it here: http://Fundamental-Markets.com/register/?so=ZION
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The financial sector has been one of the market's top performers over the past couple of years, but that doesn't mean there aren't still great long-term investments to be found. Here's why three Motley Fool investors think Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE: JPM), and Zions Bancorporation (NASDAQ: ZION) could be excellent additions to your portfolio in June.
An investment bank that could become a major consumer bank as well
Matt Frankel (Goldman Sachs): Most investors think of Goldman Sachs as an investment bank, and for good reason. The bank has the leading market share in mergers and acquisitions as well as equity underwriting, among other impressive statistics.
Goldman Sachs' upcoming entry into the credit card business could help take its consumer business to the next level. Image source: Getty Images.
However, I think many people are underestimating the long-term potential of Goldman's consumer banking business, which is still very much in its infancy.
Goldman's Marcus platform has been quite successful since its late-2016 personal lending launch, originating more than $3 billion in personal loans in that time, and bringing in about $11 billion in consumer deposits since acquiring General Electric's deposit portfolio about two years ago.
This could be just the starting point, though. In a recent presentation, Goldman's president and COO, David Solomon, emphasized that Goldman was aiming to build a large, digital consumer finance platform and could expand into other areas of consumer banking -- specifically mentioning credit cards, mortgages, auto lending, and more. And with the recently reported co-branding partnership to issue an Apple Pay credit card, it doesn't look like Goldman is wasting any time.
One of the most interesting aspects of Goldman's consumer banking efforts is that the bank has the scale, capitalization, and brand advantages of a big bank without the legacy infrastructure (such as a branch network) to deal with. In other words, Goldman has the excellent cost advantages of smaller online banks, but with tons of capital to fuel its growth, a rock-solid brand name, and a long history of experience with solid risk management practices.
House of Dimon
Jordan Wathen (JPMorgan Chase): This bank quietly became the largest bank in the country by assets, but I see even brighter days ahead for this global banking institution.
Simple retail banking is at the core of what makes JPMorgan an extraordinary bank. From credit cards to savings accounts, JPMorgan has a relationship with roughly half of American households and more than 4 million small businesses. Its card business gives it more insight and data into the health of the consumer than virtually any other institution. The company estimates that it has 22% market share in credit card sales, a meaningful competitive advantage.
On the opposite end of the spectrum, JPMorgan has a leading corporate and investment banking franchise that ranked No. 1 in debt capital markets, No. 2 in mergers and acquisitions, and No. 2 in equity capital markets in 2017. Its scale allows the company to send a greater share of revenue into pre-tax profit, as the investment bank's overhead ratio stood at 55% in the most recent quarter. In an industry that isn't known for thrift, JPMorgan's efficiency is commendable.
Ultimately, I think a combination of rising interest rates, lower taxes, and widening margins from growing scale should enable JPMorgan Chase to reliably earn a mid-teens return on tangible common equity, more than justifying its current valuation of about two times tangible book value.
Ride into the sunset with this bank stock
Dan Caplinger (Zions Bancorporation): Big banks get all the headlines, but well-located regional banks have some opportunities that even Wall Street's finest have trouble matching. Zions has its headquarters in Salt Lake City, and that location taps into the huge growth that the American West has seen over the past decade.
The bank has taken full advantage of its growth opportunities. In its most recent quarter, Zions reported an 11% rise in net interest income, benefiting from rising interest rates, even as credit quality improved with dramatic declines in nonperforming assets and classified loans. Zions in particular has done well to keep overhead costs under control even as it grows, and gains in efficiency ratios have been especially impressive.
Shareholders have reaped the rewards. Zions has boosted its dividend for four consecutive quarters, culminating in a tripling of its payout to $0.24 per share most recently. That's taken the bank's yield up to a more respectable 1.7%, but Zions' earnings give it plenty more capacity to keep boosting dividends to even higher levels.
Prospects for the Mountain West region are still favorable, and that should benefit Zions' home territory to a greater extent than the nation overall. With favorable interest rate trends, good operational performance, and a solid customer base, Zions Bancorp is in great shape right now and looks poised to keep succeeding into the future.
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Dan Caplinger owns shares of Apple. Jordan Wathen has no position in any of the stocks mentioned. Matthew Frankel owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy.