Zions: 4Q Earnings Snapshot
SALT LAKE CITY (AP) _ Zions Bancorp (ZION) on Tuesday reported fourth-quarter earnings of $183 million.
The bank, based in Salt Lake City, said it had earnings of 97 cents per share. Earnings, adjusted for severance costs and non-recurring costs, were $1.14 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The financial holding company posted revenue of $799 million in the period. Its revenue net of interest expense was $711 million, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $702 million.
For the year, the company reported profit of $816 million, or $4.16 per share. Revenue was reported as $2.83 billion.
Zions shares have declined almost 4% since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 3%. In the final minutes of trading on Tuesday, shares hit $49.90, an increase of 6% in the last 12 months.