Zions is one of the most interest-rate-sensitive banks we cover.
Zions reported third-quarter earnings per share of $0.57, mostly in line with our expectations. Net interest margin contracted 3 basis points during the quarter to 3.36%, driven mostly by flat growth in loans while deposits grew just over 1%. In addition, the average yield on Zions’ securities portfolio decreased 13 basis points, while the yield decreased 3 basis points. Despite results in line with our expectations, we are increasing our fair value estimate to $33 from $28 to reflect our revise...Zions is a commercial bank. The company provides a range of banking and related services, primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company provides community banking services through its main business lines of small and medium-sized business and corporate banking; commercial and residential development, construction and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending; trust and wealth management; capital markets activities, including municipal finance advisory and underwriting; and investment activities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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