Stock Monitor: Bank of Hawaii Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 24, 2018 / Active-Investors.com has just released a free earnings report on Zions Bancorp. (NASDAQ: ZION) ("Zions"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=ZION. The Company posted its financial results on January 22, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17). The Salt Lake City, Utah-based Company's total interest income and non-interest income grew on a y-o-y basis. Register today and get access to over 1000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Bank of Hawaii Corporation (NYSE: BOH), which also belongs to the Financial sector as the Company Zions Bancorp. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=BOH
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Zions Bancorp most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=ZION
Earnings Highlights and Summary
During Q4 FY17, Zions' total interest income grew 12% to $562 million from $501 million in Q4 FY16. The Company's total interest expenses increased to $36 million in Q4 FY17 from $21 million in Q4 FY16. Zions' net interest income also increased to $526 million during the reported quarter from $480 million in Q4 FY16. Furthermore, taxable-equivalent net interest income increased to $535 million in Q4 FY17 from $488 million in the year ago same quarter. Meanwhile, the Company's non-interest income was $139 million during Q4 FY17 compared to $128 million in Q4 FY16.
The financial holding Company reported a net income applicable to common shareholders of $114 million, or $0.54 per diluted share, in Q4 FY17 compared to $125 million, or $0.60 per diluted share, in Q4 FY16. Adjusting for non-recurring costs, the Company's earnings were $0.80 per diluted share in Q4 FY17 compared to Wall Street's forecasts of $0.73 per diluted share.
Earnings Metrics
During the reported quarter, the Company's return on average assets was 0.74% versus 0.88% in the prior year's comparable quarter. The return on average common equity came in at 6.3% in Q4 FY17 compared to 7.1% in in Q4 FY16. Moreover, tangible return on average tangible common equity was 7.4% in Q4 FY17 compared to 8.4% in in Q4 FY16.
The Company's efficiency ratio was 61.6% in Q4 FY17 compared to 64.5% in Q4 FY16. Zions' net interest margin rose to 3.45% during Q4 FY17 from 3.37% in Q4 FY16. The Company's tangible common equity ratio was 9.34% at December 31, 2017, compared to 9.49% at December 31, 2016. During Q4 FY17, Basel III common equity tier 1 capital ratio came in flat at 12.1%. Additionally, Basel III tier 1 leverage ratio stood at 10.5% as on December 31, 2017, compared to 11.1% as on December 31, 2016.
Balance Sheet Analyzed
Zions' average total loans held for investment balance was $44.34 billion at the end of Q4 FY17 compared to $42.64 billion at the end of the last year's corresponding quarter. In Q4 FY17, the average yield on total loans held for investment was 4.30% compared to 4.19% in Q4 FY16. The Company's total average interest-earnings assets were $61.57 billion for the quarter ended December 31, 2017, versus $57.55 billion in the prior year's same period. In Q4 FY17, yield on average interest-bearing funds was 3.69% compared to 3.59% in Q4 FY16. Furthermore, interest-bearing deposits increased to $28.30 billion in Q4 FY17 from $28.53 billion in Q4 FY16.
The Company had total non-performing assets of $418 million at December 31, 2017, compared to $573 million at December 31, 2016. Non-performing assets as a percentage of loans and leases and other real estate owned was 0.93% at December 31, 2017, versus 1.34% at December 31, 2016.
Share Repurchase
During Q4 FY17, Zions continued its stock buyback program and repurchased 2.3 million shares for $115 million, at an average price of $49.57 per share. Furthermore, the Company has repurchased 7.0 million shares for $320 million, at an average price of $45.66 per share in the last year.
Stock Performance Snapshot
January 23, 2018 - At Tuesday's closing bell, Zions Bancorp's stock slightly advanced 0.02%, ending the trading session at $54.17.
Volume traded for the day: 2.94 million shares, which was above the 3-month average volume of 2.17 million shares.
Stock performance in the last month - up 6.78%; previous three-month period - up 15.85%; past twelve-month period - up 28.03%; and year-to-date - up 6.57%
After yesterday's close, Zions Bancorp's market cap was at $10.64 billion.
Price to Earnings (P/E) ratio was at 20.27.
The stock has a dividend yield of 1.18%.
The stock is part of the Financial sector, categorized under the Regional - Pacific Banks industry. This sector was up 0.2% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
