Zions Bancorporation (ZBK)

Symbol Overview

ZBKhttp://www.nasdaq.com/symbol/zbkFinancen/aMajor Banks

Latest Zions Bancorporation (ZBK) company news

California Bank & Trust Solidifies Position As "Best Bank" In San Diego With Seventh Consecutive Annual Win

" data-reactid="11">California Bank & Trust also named "Best Commercial Bank" for fourth consecutive year in San Diego Union-Tribune's annual Readers Poll

SAN DIEGO, Sept. 20, 2017 /PRNewswire/ -- For the seventh consecutive year, readers of The San Diego Union-Tribune have voted California Bank & Trust (CB&T) as the region's "Best Bank." The voting public also chose CB&T as the "Best Commercial Bank" for the fourth year in a row." data-reactid="12">SAN DIEGO, Sept. 20, 2017 /PRNewswire/ -- For the seventh consecutive year, readers of The San Diego Union-Tribune have voted California Bank & Trust (CB&T) as the region's "Best Bank." The voting public also chose CB&T as the "Best Commercial Bank" for the fourth year in a row.

Eric Ellingsen, president and chief operating officer of CB&T. "I am delighted that our customers continue to recognize California Bank & Trust's unique approach of building deep relationships and providing the financial solutions that best meet their needs."" data-reactid="13">"Being named Best Bank and Best Commercial Bank once again by San Diegans is a matter of great pride for all of us at California Bank & Trust," said Eric Ellingsen, president and chief operating officer of CB&T. "I am delighted that our customers continue to recognize California Bank & Trust's unique approach of building deep relationships and providing the financial solutions that best meet their needs."

San Diego's Best" Union-Tribune Readers Poll offers the opportunity to vote for outstanding businesses, products and services. The highly coveted "best of the best" award is seen as a key endorsement from the residents of San Diego County." data-reactid="14">The annual "San Diego's Best" Union-Tribune Readers Poll offers the opportunity to vote for outstanding businesses, products and services. The highly coveted "best of the best" award is seen as a key endorsement from the residents of San Diego County.

"I am thankful to our knowledgeable bankers for this honor," Ellingsen continued. "They work hard every single day to listen, understand our customers' needs and deliver great, personalized service. Our bankers' expertise and dedication, combined with our best-of-class products, enable us to offer superior financial solutions and responsive service."

For more than 60 years, CB&T has helped generations of Californians achieve their hopes and dreams by giving them access to experienced, professional bankers specializing in personal banking, small business banking, business loans, commercial banking, international banking, real estate financing, wealth management and more.

$65 billion. CB&T retains the ability to make local decisions while leveraging the financial stability, knowledge and services of Zions, including global banking capabilities." data-reactid="17">CB&T is part of Zions Bancorporation, one of the nation's premier financial services companies with total assets exceeding $65 billion. CB&T retains the ability to make local decisions while leveraging the financial stability, knowledge and services of Zions, including global banking capabilities.

Media Please Note

Eric Ellingsen or to request images, please contact Sean Dowdall at Landis Communications Inc. (415-359-2313; [email protected])." data-reactid="19">For further details about California Bank & Trust, to schedule an interview with Eric Ellingsen or to request images, please contact Sean Dowdall at Landis Communications Inc. (415-359-2313; [email protected]).

About California Bank & Trust

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 bankingbusiness 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. Since 2002, CB&T has been rated by the FDIC as "outstanding" for its Community Reinvestment Act activities. 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 FacebookTwitter and LinkedIn." data-reactid="21">Locally managed CB&T, an affiliate 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 bankingbusiness 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. Since 2002, CB&T has been rated by the FDIC as "outstanding" for its Community Reinvestment Act activities. 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 FacebookTwitter and LinkedIn.

Sean Dowdall
Landis Communications Inc.
(415) 359-2313
[email protected]  
www.landispr.com  " data-reactid="22">Media Contact
Sean Dowdall
Landis Communications Inc.
(415) 359-2313
[email protected]  
www.landispr.com  

 

http://www.prnewswire.com/news-releases/california-bank--trust-solidifies-position-as-best-bank-in-san-diego-with-seventh-consecutive-annual-win-300523199.html" data-reactid="24">View original content:http://www.prnewswire.com/news-releases/california-bank--trust-solidifies-position-as-best-bank-in-san-diego-with-seventh-consecutive-annual-win-300523199.html

" data-reactid="25">

Zions Bancorporation, Francesca's Holdings, Continental, Hitachi and Arkema highlighted as Zacks Bull and Bear of the Day

Shire is an inspired choice for value investors, as it is hard to beat its incredible lineup of statistics on this front.

For Immediate Release

Chicago, IL – September 19, 2017 – Zacks Equity Research Zions Bancorporation(Nasdaq: ZION– Free Report) as the Bull of the Day, Francesca's Holdings Corporation(Nasdaq: FRAN – Free Report)as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Continental AG (OTCMKTS: CTTAY– Free Report), Hitachi (OTCMKTS: HTHIY– Free Report) andArkema SA (OTCMKTS: ARKAY– Free Report).

Here is a synopsis of all three stocks:

Bull of the Day:

Zions Bancorporation(Nasdaq: ZION– Free Report) is a regional bank in the right part of the country to cash in on the growing US economy: the west. This Zacks Rank #1 (Strong Buy) is expected to see double digit earnings growth in both 2017 and 2018.

Zions Bancorporation is a regional bank headquartered in Salt Lake City, Utah with total assets exceeding $65 billion. It has a market cap of $8.9 billion and operates in 11 states including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.

It offers all of the full range of banking services including wealth management and commercial loans.

Another Beat in the Second Quarter

On July 25, Zions reported its second quarter results and beat the Zacks Consensus Estimate by 11 cents. Earnings were $0.73 compared to the consensus of $0.62. It has now beaten 5 quarters in a row.

Net loans and leases rose by $941 million to $43.7 billion from $42.5 billion year-over-year. The gains came from an increase of $647 million in commercial loans and $302 million in 1-4 family residential loans.

It's seeing real improvement in its credit loss provisions. It was just $10 million in the second quarter, down from $18 million in the first quarter. That is also significantly lower than the $31 million credit loss provision in the second quarter of 2016.

Zions saw improvement in its oil and gas-related loan portfolio as non-performing assets fell $37 million in that area year-over-year.

The allowance for credit losses for oil and gas-related loans decreased during the second quarter but still exceeded 8% of the total loan portfolio.

Capital Plan for 2017-2018

The Federal Reserve approved the bank's capital plan for July 1, 2017 to June 30, 2018. That entailed doubling the currently quarterly dividend to $0.24 by the second quarter of 2018 from the current $0.12.

It's current dividend is yielding 1.1% but that will obviously be increasing.

It will also increase its share repurchase for the entire capital plan period to $465 million. In the second quarter, it repurchased $45 million.

Estimates Soar

Analysts liked what they heard as rough times appear to be waning for Zions.

10 estimates have been revised higher in the last 60 days pushing the Zacks Consensus up to $2.81 from $2.58. That's earnings growth of 41.3% as it made just $1.99 last year.

Analysts are also bullish on 2018 as earnings are expected to rise another 10.7%.

Bear of the Day:

Francesca's Holdings Corporation(Nasdaq: FRAN – Free Report) admitted recently it has gotten the trend wrong, but that's not the only thing impacting this Zacks Rank #5 (Strong Sell). It suffered direct impacts from Hurricane Harvey as well.

Francesca's is a woman's specialty retailer offering apparel, jewelry, gifts and accessories in its boutique stores. As of Sep 6, it had 692 boutiques in 47 states and the District of Columbia.


Hurricane Harvey Strikes a Blow

Francesca's is headquartered in Houston, Texas and it wasn't immune to impacts from Hurricane Harvey.

Its corporate headquarters, ecommerce fulfillment, distribution center, and approximately 40 boutiques were all directly impacted and had to shut down. Many of its employees suffered personal impacts as well.

As of Sep 5, it had re-opened its headquarters and all but one of its impacted boutiques but it expected it take a couple of weeks to normalize.

In addition, Hurricane Irma then followed on Harvey's heals, leading to business disruptions in Florida.

It's unclear how much of an impact it will have on the third quarter though.

Estimates Cut for Fiscal 2017 and Fiscal 2018

It's tough in the apparel retail business right now. One wrong step, like getting the trend of the season wrong, and it sets the company back.

Francesca's had made quite a turnaround in the last few years as it cut inventory and made management changes. It invested heavily in ecommerce, with a new web site and better product distribution.

However, since the earnings report, analysts have been cutting estimates on Francesca's for both this fiscal year and next fiscal year.

Earnings are expected to fall 26% this year to just $0.81. It made $1.09 last year.

Analysts are bearish on next year too. Fiscal 2018's Zacks Consensus Estimate has also fallen to $0.84 from $1.18 in the last month." data-reactid="29">
It also has an ecommerce web site at francescas.com.

A Beat in Q2 But Same Store Sales Fall

On Sep 6, it reported its second quarter results and beat the Zacks Consensus Estimate by a penny. Earnings were $0.20 versus the consensus of $0.19.

It had already previously announced preliminary results but earnings exceeded that preliminary expectations due to better than expected merchandise margins and SG&A expenses.

Same-store-sales, however, came in at the low-end of the expected range, falling 3% year over year. That was due to a decrease in boutique conversion rates. Last year's second quarter same-store-sales were flat.

Unfortunately, it also reported that August sales were soft due to "merchandising missteps." It was trying to get rid of its back-to-school inventory so that it could focus on the lucrative upcoming holiday season.

Hurricane Harvey Strikes a Blow

Francesca's is headquartered in Houston, Texas and it wasn't immune to impacts from Hurricane Harvey.

Its corporate headquarters, ecommerce fulfillment, distribution center, and approximately 40 boutiques were all directly impacted and had to shut down. Many of its employees suffered personal impacts as well.

As of Sep 5, it had re-opened its headquarters and all but one of its impacted boutiques but it expected it take a couple of weeks to normalize.

In addition, Hurricane Irma then followed on Harvey's heals, leading to business disruptions in Florida.

It's unclear how much of an impact it will have on the third quarter though.

Estimates Cut for Fiscal 2017 and Fiscal 2018

It's tough in the apparel retail business right now. One wrong step, like getting the trend of the season wrong, and it sets the company back.

Francesca's had made quite a turnaround in the last few years as it cut inventory and made management changes. It invested heavily in ecommerce, with a new web site and better product distribution.

However, since the earnings report, analysts have been cutting estimates on Francesca's for both this fiscal year and next fiscal year.

Earnings are expected to fall 26% this year to just $0.81. It made $1.09 last year.

Analysts are bearish on next year too. Fiscal 2018's Zacks Consensus Estimate has also fallen to $0.84 from $1.18 in the last month.

Additional content:

Doves Seen Out the Window: Global Week Ahead

In the Global Week Ahead, Wednesday’s FOMC statement hits at 2 pm Eastern Standard Time (EST), closing out a 2-day Washington DC confab.

This latest monetary policy meeting offers traders a full forecast update. Chair Yellen’s press conference goes live a half hour later.

What to Expect—

(1) Don’t expect a Fed policy rate change until December.

(2) Do expect an announcement of reduced reinvestment in U.S. Treasury bond and Mortgage-backed security (MBS) holdings -- with implementation soon.

(3) Recall the Fed’s early balance sheet stabilization plan laid out in July: It set reinvestment caps at $6 billion and $4 billion per month of U.S. Treasuries and MBS/agency product for the first three months. Then, an escalator clause raised these caps every three quarters in equal increments toward $30 billion and $20 billion caps a year.

Less reinvestment means less incremental growth in the Fed balance sheet. This call is NOT for an overall balance sheet reduction, but a stage before that.

(4) ‘Dot plot’ guidance: Expect downward revisions to long-term rate guidance from some FOMC members. A decline -- from a 3.0% long-term ‘neutral’ policy rate by 25 or 50 basis points -- may be in some member’s Tea Leaves.

(5) Lower consumer price inflation (CPI) forecasts are likely. Any FOMC discussion should reveal the extent of uncertainty among members over the drivers behind soft 2017 inflation.

(6) Hurricanes Harvey and Irma: There should be 2017 guidance on negative effects. Positive rebuilding effects into 2018 may be discussed.

These are 6 dovish points. Don’t expect any surprises from this menu. It’s going to be a conservative meeting of advisors, spooked by weak inflation readings.

The longer rates go sideways, the better it is for stocks.

Top Zacks #1 Rank (STRONG BUY) Stocks—

Keep your focus on non-U.S. stocks. That is where the better large-cap stock values can be found these days.  

Here are 3 examples…

Continental AG (OTCMKTS: CTTAY – Free Report):This is a multi-national German tire-producing company. The $49 billion market cap stock gets a long-term Zacks VGM score of B.

Hitachi (OTCMKTS: HTHIY – Free Report):This is the Japanese company with diversified operations mostly in Asia. The market cap stock at $34 billion has a long-term Zacks VGM score of A.

Arkema SA (OTCMKTS: ARKAY – Free Report):This $8.6 billion in market cap French chemical company is engaged in the manufacturing and marketing of vinyl products, industrial chemicals and performance products.

Key Global Macro—

Wednesday is the big day, with the FOMC announcement.

On Thursday, the Bank of Japan follows the lead of the FOMC, and issues new rate and quantitative easing (QE) guidance.  

Also on Thursday, Argentina’s economy may struggle to produce Q2 GDP growth, after seeing strong Q1 growth. Q1-17 saw the strongest growth (+1.1%) since 1H-2015. Argentina’s 2017 y/y growth rate can get to +2.6%.

On Tuesday, the FOMC starts its 2-day meeting.

The German ZEW indexes come out. Current conditions are at 86.7. Economic sentiment is at 10.0.  

U.S. building permits are forecast to be 1.22 million, from 1.23 million before. Starts are forecast to be 1.115 million from 1.16 million before.

Russia’s unemployment rate gets updated. It has been at 5.1%.

On Wednesday, the U.K.’s retail sales (ex-fuel and auto) looks to fall to +0.80 y/y from 1.5% y/y.  A monthly print of -0.5% is expected.

The FOMC gives markets their latest interest rate decision. The Fed Funds Rate is supposed to stay at 1.25% until the December meeting. Any discussion of weak inflation causes will be listened to closely.

The Fed’s Chair Yellen holds a press conference.

The South African Reserve Bank (SARB) comes out with its interest rate decision. It has been at 6.75%.

On Thursday, the Bank of Japan (BoJ) issues a new stance on its overnight rate, now at -0.10%.  Governor Kuroda holds a press conference.

There is an ECB Council meeting.

There is a Norges Bank interest rate decision and monetary policy report from Norway.

Brazil’s IBGE inflation rate is down to 2.61% y/y.

U.S. initial claims should stay low at 284K.

Argentina’s GDP growth rate should be 2.6% y/y.

On Friday, the Eurozone composite PMI is out. The prior was high at 55.7. Services were 54.7 and Manufacturing was 57.4.

The U.S. manufacturing PMI comes out. It was 52.8.

Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

4 Surprising Tech Stocks to Keep an Eye On

Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without.

More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off. See Stocks Now>>

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.

Get the full Report on ZION - FREE

Get the full Report on FRAN - FREE

Get the full Report on CTTAY - FREE

Get the full Report on HTHIY - FREE

Get the full Report on ARKAY - FREE

Follow us on Twitter:  https://twitter.com/zacksresearch

Join us on Facebook:  https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

[email protected]

https://www.zacks.com

Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.

Click to get this free report
 
Zions Bancorporation (ZION) : Free Stock Analysis Report
 
Arkema SA (ARKAY) : Free Stock Analysis Report
 
Hitachi Ltd. (HTHIY) : Free Stock Analysis Report
 
Continental AG (CTTAY) : Free Stock Analysis Report
 
Francesca's Holdings Corporation (FRAN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research" data-reactid="64">
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Zions Bancorporation (ZION) : Free Stock Analysis Report
 
Arkema SA (ARKAY) : Free Stock Analysis Report
 
Hitachi Ltd. (HTHIY) : Free Stock Analysis Report
 
Continental AG (CTTAY) : Free Stock Analysis Report
 
Francesca's Holdings Corporation (FRAN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Bull of the Day: Zions Bancorporation (ZION)

Zions Bancorporation (ZION) is a regional bank in the right part of the country to cash in on the growing US economy: the west. This Zacks Rank #1 (Strong Buy) is expected to see double digit earnings growth in both 2017 and 2018.

Zions Bancorporation is a regional bank headquartered in Salt Lake City, Utah with total assets exceeding $65 billion. It has a market cap of $8.9 billion and operates in 11 states including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.

It offers all of the full range of banking services including wealth management and commercial loans.

Another Beat in the Second Quarter

On July 25, Zions reported its second quarter results and beat the Zacks Consensus Estimate by 11 cents. Earnings were $0.73 compared to the consensus of $0.62. It has now beaten 5 quarters in a row.

Net loans and leases rose by $941 million to $43.7 billion from $42.5 billion year-over-year. The gains came from an increase of $647 million in commercial loans and $302 million in 1-4 family residential loans.

It's seeing real improvement in its credit loss provisions. It was just $10 million in the second quarter, down from $18 million in the first quarter. That is also significantly lower than the $31 million credit loss provision in the second quarter of 2016.

Zions saw improvement in its oil and gas-related loan portfolio as non-performing assets fell $37 million in that area year-over-year.

The allowance for credit losses for oil and gas-related loans decreased during the second quarter but still exceeded 8% of the total loan portfolio.

Capital Plan for 2017-2018

The Federal Reserve approved the bank's capital plan for July 1, 2017 to June 30, 2018. That entailed doubling the currently quarterly dividend to $0.24 by the second quarter of 2018 from the current $0.12.

It's current dividend is yielding 1.1% but that will obviously be increasing.

It will also increase its share repurchase for the entire capital plan period to $465 million. In the second quarter, it repurchased $45 million.

Estimates Soar

Analysts liked what they heard as rough times appear to be waning for Zions.

10 estimates have been revised higher in the last 60 days pushing the Zacks Consensus up to $2.81 from $2.58. That's earnings growth of 41.3% as it made just $1.99 last year.

Analysts are also bullish on 2018 as earnings are expected to rise another 10.7%.

Is It Finally Breaking Out?

Shares recently saw 5-year highs but have come off those levels a bit.

But all bank stocks have struggled to find upward momentum in 2017.

Zions is trading with a forward P/E of 15.4 which is under that of the S&P 500, which is trading with an average P/E of 19.8.

If you're buying into the turnaround story in the banks, especially those in oil and gas, then Zions is one regional bank you might want to keep on your short list.

New Report: An Investor’s Guide to Cybersecurity

Cyberattacks have become more frequent and destructive than ever. In fact, they’re expected to cause $6 trillion per year in damage by 2020.
The cybersecurity industry is expanding quickly in response to these threats. In fact, a projected $170 billion per year will be spent to protect consumer and corporate assets. Zacks has just released Cybersecurity: An Investor’s Guide to Locking Down Profits which reveals 4 promising investment candidates.

Download the new report now>>

Click to get this free report
 
Zions Bancorporation (ZION) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research" data-reactid="20">
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Zions Bancorporation (ZION) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

The Zacks Analyst Blog Highlights: Zions Bancorporation, State Street, Pinnacle Financial Partners and Western Alliance Bancorporation

GlaxoSmithKline plc (GSK) along with partner Innoviva reports positive results from a phase III study, evaluating a single inhaler triple therapy in patients with COPD.

For Immediate Release

Chicago, IL – September 14, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Zions Bancorporation (Nasdaq:ZION – Free Report), State Street Corporation (NYSE:STT – Free Report), Pinnacle Financial Partners, Inc. (Nasdaq:PNFP – Free Report) and Western Alliance Bancorporation (NYSE:WAL – Free Report).

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Wednesday’s Analyst Blog:

Surging Treasury Yields Boost Stocks: 4 Terrific Picks

On Sep 12, the Financial Select Sector SPDR (XLF) increased 1.1%, leading gains for the markets on a day when benchmarks hit record highs. Gains for financials and banks in particular were powered by rising Treasury yields. These gains came on the back of a strong selloff in Treasurys on Monday, which occurred after the impact of Hurricane Irma was much lower than feared. Additionally, a widely anticipated North Korean missile test failed to materialize.

Replacing these lingering concerns was a couple of encouraging developments. U.S. job openings surged to a record level and Treasury Secretary Steven Mnuchin provided encouraging comments on tax reforms. This indicates that investors’ appetite for risk will only rise in the days to come, leading to a further spike in yields. Adding select bank stocks to your portfolios looks like a profitable option at this time.

Geopolitical Fears Subside, Irma Impact Less than Feared

Ultimately, the impact of Hurricane Irma was less than feared earlier. Also, after a widely anticipated missile test from North Korea failed to materialize, geopolitical tensions subsided substantially. As a result, the yield on the 10-year U.S. Treasury Note increased by 4.5 basis points to 2.171%, a level not witnessed since August. Yields on the 30-year and 2-year Treasury notes also increased to 2.774% and 1.335%, respectively.

Tuesday’s spike in yields followed a strong selloff in Treasurys on Monday. On this occasion, a sharp selloff in bonds ensued with investors forsaking safe-haven assets for riskier investment options. Consequently, the 10-year yield increased to 2.125%, marking the largest single day gain since Jul 25.

Tuesday’s increase takes the weekly increase for the 10-year Treasury note to more than 11 basis points. The rise in yields boosted the likes of Goldman Sachs and JPMorgan Chase, which gained 2.2% and 1.2%, respectively. Since banks lend over the long term and borrow for shorter periods, an increase in the long-term yield is beneficial for them. This boosts net interest margin, an important profitability metric for the banking sector.

Job Openings Data, Mnuchin Interview Raises Optimism

An increase in rates and better prospects for the banking sector are generally accepted as a sign of economic strength. Data released on Sep 12 seemed to back such an inference, with U.S. job openings hitting a record level in July. With the metric increasing from 6.12 million to 6.17 million in July, job openings have now exceeded the 6 million mark for two successive months. This is first such occurrence since the inception of this particular Department of Labor report. Additionally, data from the Census Bureau has revealed a significant year-over-year increase in income levels.

Meanwhile, Treasury Secretary Steven Mnuchin has offered encouraging comments about tax reform efforts. Speaking at an investment conference in New York, Mnuchin said he was hoping that the Republican Party would be able to push tax reforms through Congress within this year.

Further, he revealed that the Trump administration may seek to backdate the benefits of such reform to the beginning of the current year. Such comments provide a firm basis for a further rise in yields.

Our Choices

With the abatement of geopolitical and weather related tensions, investors are looking to reap stronger profits from relatively riskier assets. Encouraging developments regarding the economy are also helping to stoke such optimism.

A selloff in bonds is resulting in a spike in yields, which bodes well for banks. Picking up banking stocks looks like a smart option at this point. We have narrowed down our search to the following stocks based on a good Zacks Rank and other relevant metrics.

Zions Bancorporation (Nasdaq:ZION – Free Report) offers a wide variety of commercial and retail banking and mortgage-lending financial services.

Zions Bancorp has expected earnings growth of 41.3% for the current year. Its earnings estimate for the current year has improved by 0.1% over the last 30 days. The stock has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

State Street Corporation (NYSE:STT – Free Report) is a financial holding company. It provides a range of products and services for institutional investors worldwide through its subsidiaries.

State Street has a Zacks Rank #2 (Buy). The company has expected earnings growth of 16% for the current year. Its earnings estimate for the current year has improved by 0.6% over the last 30 days.

Pinnacle Financial Partners, Inc. (Nasdaq:PNFP – Free Report) is a bank holding company which owns 100% of the capital stock of Pinnacle National Bank, a national bank operating in the Nashville, TN metropolitan area.

Pinnacle Financial has a Zacks Rank #2. The company has expected earnings growth of 14.3% for the current year. Its earnings estimate for the current year has improved by more than 0.3% over the last 30 days.

Western Alliance Bancorporation (NYSE:WAL – Free Report) is the parent company of Western Alliance Bank and offers a range of banking products and services.

Western Alliance Bancorp has a Zacks Rank #2. The company has expected earnings growth of 21.5% for the current year. Its earnings estimate for the current year has improved by 0.3% over the last 30 days.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.

Get the full Report on ZION - FREE

Get the full Report on STT - FREE

Get the full Report on PNFP - FREE

Get the full Report on WAL - FREE

Follow us on Twitter: https://twitter.com/zacksresearch

Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

[email protected]

https://www.zacks.com/

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Click to get this free report
 
State Street Corporation (STT) : Free Stock Analysis Report
 
Pinnacle Financial Partners, Inc. (PNFP) : Free Stock Analysis Report
 
Zions Bancorporation (ZION) : Free Stock Analysis Report
 
Western Alliance Bancorporation (WAL) : Free Stock Analysis Report
 
To read this article on Zacks.com click here." data-reactid="71">
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
State Street Corporation (STT) : Free Stock Analysis Report
 
Pinnacle Financial Partners, Inc. (PNFP) : Free Stock Analysis Report
 
Zions Bancorporation (ZION) : Free Stock Analysis Report
 
Western Alliance Bancorporation (WAL) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Zions Bancorporation To Present At The Barclays 2017 Global Financial Services Conference and Updates Warrant Information

SALT LAKE CITY, Sept. 6, 2017 /PRNewswire/ -- Paul E. Burdiss, chief financial officer of Zions Bancorporation (ZION), will make a presentation at the Barclays 2017 Global Financial Services Conference on Tuesday, September 12, 2017 at 4:15 p.m. ET. A live webcast of the presentation may be accessed on the Zions Bancorporation website, www.zionsbancorporation.com. The webcast will also be archived and available on the website for 30 days." data-reactid="11">SALT LAKE CITY, Sept. 6, 2017 /PRNewswire/ -- Paul E. Burdiss, chief financial officer of Zions Bancorporation (ZION), will make a presentation at the Barclays 2017 Global Financial Services Conference on Tuesday, September 12, 2017 at 4:15 p.m. ET. A live webcast of the presentation may be accessed on the Zions Bancorporation website, www.zionsbancorporation.com. The webcast will also be archived and available on the website for 30 days.

ZIONW), the exercise price of the warrants has been reduced to approximately $35.61 per share from approximately $35.70 per share, and the warrant share multiplier has been increased to approximately 1.0286 from 1.0261, effective as of August 17, 2017." data-reactid="12">Additionally, Zions announced today that in accordance with the terms of the outstanding warrants to purchase common stock of Zions issued in May and October of 2010 (ZIONW), the exercise price of the warrants has been reduced to approximately $35.61 per share from approximately $35.70 per share, and the warrant share multiplier has been increased to approximately 1.0286 from 1.0261, effective as of August 17, 2017.

$0.12 per share paid on August 24, 2017, which is in excess of the dividend threshold amount of $0.01 per share per quarter in the terms of the warrants, and a trailing 10-day average price of Zions' common stock prior to the ex-dividend date of August 15, 2017. For further information, please see zionsbancorporation.com, under the heading Stock Information – Warrant Information" data-reactid="13">These adjustments resulted from the payment of a dividend on the common stock of Zions in the amount of $0.12 per share paid on August 24, 2017, which is in excess of the dividend threshold amount of $0.01 per share per quarter in the terms of the warrants, and a trailing 10-day average price of Zions' common stock prior to the ex-dividend date of August 15, 2017. For further information, please see zionsbancorporation.com, under the heading Stock Information – Warrant Information

$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 www.zionsbancorp.com" data-reactid="14">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 www.zionsbancorp.com

 

http://www.prnewswire.com/news-releases/zions-bancorporation-to-present-at-the-barclays-2017-global-financial-services-conference-and-updates-warrant-information-300515055.html" data-reactid="16">View original content:http://www.prnewswire.com/news-releases/zions-bancorporation-to-present-at-the-barclays-2017-global-financial-services-conference-and-updates-warrant-information-300515055.html

" data-reactid="17">

Leave a Reply

Your email address will not be published. Required fields are marked *