AP NEWS

Zions: 4Q Earnings Snapshot

January 21, 2020 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZION at https://www.zacks.com/ap/ZION