Zions: 2Q Earnings Snapshot
SALT LAKE CITY (AP) _ Zions Bancorp (ZION) on Monday reported second-quarter earnings of $198 million.
The bank, based in Salt Lake City, said it had earnings of 99 cents per share.
The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The financial holding company posted revenue of $816 million in the period. Its revenue net of interest expense was $701 million, which also missed Street forecasts. Ten analysts surveyed by Zacks expected $723.2 million.
Zions shares have increased 11% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. In the final minutes of trading on Monday, shares hit $45.23, a decline of 15% in the last 12 months.