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Zions (ZION) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Zions (ZION - Free Report) reported revenue of $787 million, down 0.5% over the same period last year. EPS came in at $1.21, compared to $1.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $761.11 million, representing a surprise of +3.40%. The company delivered an EPS surprise of +10.00%, with the consensus EPS estimate being $1.10.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Zions performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 3% compared to the 3% average estimate based on nine analysts.
Efficiency Ratio: 64.5% versus 65.9% estimated by eight analysts on average.
Average balance - Total interest-earning assets: $82.10 billion versus the eight-analyst average estimate of $80.89 billion.
Net charge-offs to average loans and leases: 0.1% versus the seven-analyst average estimate of 0.1%.
Total nonperforming assets: $265 million versus $264.56 million estimated by four analysts on average.
Total risk-based capital ratio: 13.1% versus the four-analyst average estimate of 13%.
Total nonaccrual Loan: $261 million versus $258.86 million estimated by four analysts on average.
Tier 1 risk-based capital ratio: 11.2% versus 11.1% estimated by three analysts on average.
Tier 1 leverage ratio: 8.5% versus 8.5% estimated by three analysts on average.
Total Noninterest Income: $179 million versus $163.01 million estimated by nine analysts on average.
Taxable-equivalent net interest income: $608 million compared to the $599.08 million average estimate based on eight analysts.
Other customer-related fees: $14 million versus the seven-analyst average estimate of $15.30 million.
Shares of Zions have returned +18.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Zions (ZION) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Zions (ZION - Free Report) reported revenue of $787 million, down 0.5% over the same period last year. EPS came in at $1.21, compared to $1.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $761.11 million, representing a surprise of +3.40%. The company delivered an EPS surprise of +10.00%, with the consensus EPS estimate being $1.10.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Zions performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 3% compared to the 3% average estimate based on nine analysts.
- Efficiency Ratio: 64.5% versus 65.9% estimated by eight analysts on average.
- Average balance - Total interest-earning assets: $82.10 billion versus the eight-analyst average estimate of $80.89 billion.
- Net charge-offs to average loans and leases: 0.1% versus the seven-analyst average estimate of 0.1%.
- Total nonperforming assets: $265 million versus $264.56 million estimated by four analysts on average.
- Total risk-based capital ratio: 13.1% versus the four-analyst average estimate of 13%.
- Total nonaccrual Loan: $261 million versus $258.86 million estimated by four analysts on average.
- Tier 1 risk-based capital ratio: 11.2% versus 11.1% estimated by three analysts on average.
- Tier 1 leverage ratio: 8.5% versus 8.5% estimated by three analysts on average.
- Total Noninterest Income: $179 million versus $163.01 million estimated by nine analysts on average.
- Taxable-equivalent net interest income: $608 million compared to the $599.08 million average estimate based on eight analysts.
- Other customer-related fees: $14 million versus the seven-analyst average estimate of $15.30 million.
View all Key Company Metrics for Zions here>>>Shares of Zions have returned +18.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.