LONDON, February 11, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free earnings coverage on Zions Bancorporation (NASDAQ: ZION). On January 26, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Zions&d=11-Feb-2015&s=ZION to read our free earnings review on Zions Bancorporation (Zions). During FY14, the company's net earnings applicable to common shareholders were $333.01 million, or $1.71 per diluted common share. Chairman and CEO of Zions, Harris H. Simmons, said that the company is encouraged with the continued strength of its capital and credit quality and believe that Zions is well positioned for the next several quarters and years. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Zions&d=11-Feb-2015&s=ZION
Earnings Overview
During Q4 FY14, Zions' net interest income stood at $430.43 million, compared to $432.05 million in Q4 FY13. Furthermore, the company's net interest margin decreased to 3.25% in Q4 FY14 from 3.33% in Q4 FY13. For Q4 FY14, Zions' noninterest income came in at $129.40 million, compared to noninterest loss of $31.15 million in Q4 FY13. Free research on ZION can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Zions&d=11-Feb-2015&s=ZION
In Q4 FY14, Zions' net earnings applicable to common shareholders came in at $73.21 million, or $0.36 per diluted common share, compared to net loss applicable to common shareholders of $59.44 million, or $0.32 loss per diluted common share, in Q4 FY13. Analysts from Bloomberg had expected net earnings applicable to common shareholders of $86.32 million, or $0.42 per diluted common share, in Q4 FY14.
The company reported total interest income of $1.85 billion in FY14, compared to $1.94 billion in FY13. Zions' total interest expense decreased to $173.00 million in FY14 from $245.08 million in FY13. Moreover, Zions' total noninterest income for FY14 increased to $508.64 million from $337.41 in FY13. Sign up and read the free analyst's notes on ZION at:
http://get.Investor-Edge.com/pdf/?c=Zions&d=11-Feb-2015&s=ZION
As of December 31, 2014, Zions' average balance for loans and leases stood at $39.85 billion. The company had approximately $3.2 billion of primarily oil and gas energy-related loan balances, representing 7.9% of the total loan portfolio, out of which $17 million were nonperforming. Additionally, Zions' total nonperforming lending-related assets stood at $325.56 million as of December 31, 2014, compared to $452.72 million as of December 31, 2013. On December 31, 2014, the estimated Basel I Tier 1 common equity ratio was at 11.92%.
Mr. Simmons expressed the company's concern regarding the potential effect of the decline of oil and gas prices on Zions' credit quality and loan growth. He affirmed that the company is actively managing its energy-related exposure, including both individual credits and the portfolio as a whole. He informed that Zions' underwriting discipline has remained strong and growth in FY14 was minimal. Disciplined underwriting, combined with strong capital and loan loss reserve ratios, positions Zions to deal effectively with challenges that may arise from the current price environment, he concluded. Visit Investor-Edge and access the latest research on ZION at:
http://get.Investor-Edge.com/pdf/?c=Zions&d=11-Feb-2015&s=ZION
Stock Performance
On the day following the earnings release, January 27, 2015, Zions' stock fell 1.63% to end the session at $24.71. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Tuesday, February 10, 2015, the company's shares finished 0.50% lower at $25.67, after vacillating between $25.56 and $25.95. A total of 1.94 million shares were traded which was below its three months average volume of 2.72 million shares. Over the previous three trading sessions and over the last one month, the company's shares have fallen by 0.12% and 1.50%, respectively. Further, the stock has lost 13.48% in the past three months. Zions' shares closed below their 50-day and 200-day moving averages of $26.62 and $28.30, respectively.
Sneak Peek to Corporate Insider Trading
In the last one month, there were 46 corporate insider transactions made by 14 individuals. A total of 38,000 shares were bought at an average price of $3.13 per share and for a total value of $119,067 between January 20 and February 04, 2015. During the same time period, 31,478 shares in total were also disposed at an average price of $25.00 per share and for a total value of $786,853. The following are few of the transactions made in the aforesaid period: David E. Blackford, Executive Vice President at Zions, disposed 6,880 shares at an average price of $25.11 per share. W. David Hemingway, Executive Vice President and Chief Investment Officer at Zions, bought 5,000 shares at an average price of $3.19 per share and sold 2,574 shares at an average price of $24.94 per share. Additionally, on February 02, 2015, Harris H. Simmons purchased 33,000 shares at an average price of $3.12 per share. Complimentary in-depth research on ZION is available at:
http://get.Investor-Edge.com/pdf/?c=Zions&d=11-Feb-2015&s=ZION
About Investor-Edge.com
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