earnings
confidence high
sentiment neutral
materiality 0.75
Zions Q3 EPS $1.37 up 21% YoY; NIM 3.03%; classified loans rise 66%; to buy 4 branches
ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/
2024-Q3 EPS reported
$3.61
revenue$466,000,000
- Net earnings $204M, diluted EPS $1.37, up from $168M ($1.13) a year ago.
- Net interest margin improved to 3.03% from 2.93%; net interest income $620M up 6%.
- Agreed to purchase four FirstBank branches in Coachella Valley with ~$730M deposits and $420M loans.
- Classified loans surged 66% QoQ to $2.1B (3.55% of loans); net charge-offs remained low at 0.02%.
- Estimated CET1 ratio improved to 10.7% from 10.2%; tangible common equity grew 28% YoY.