Regional – Pacific Banks
(ZION) Zions Bancorp Earnings Outpace Estimates
Zions Bancorp. (ZION) reported third quarter 2011 earnings of 40 cents per share, significantly ahead of the Zacks Consensus Estimate of 32 cents. However, this is below the prior quarter’s earnings of 45 cents per share. However, after considering non-cash effects of the discount...
26Oct2011 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorp Beats Third Quarter Earnings Estimates
Zions Bancorp. (ZION) reported third quarter 2010 loss per share of 47 cents, narrower than the Zacks Consensus Estimate of 51 cents per share loss. Results were a significant improvement over the prior and year-earlier quarters. Zions ended the quarter with record high capital...
18Oct2010 | vitalstocks | 0 comments | Continued(WABC) U.S. Economy Hits 118 Bank Failures in 2010
The ongoing economic volatility took its toll on a few more banks last week. Eight more banks including ShoreBank, a big community bank based in Chicago, were shuttered by the U.S. regulators on Friday. This takes the total number of bank failures to 118 so far in 2010, compared...
23Aug2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Unloads CDO Risks
On Wednesday, Zions Bancorporation ( ZION ) entered into a total return swap (TRS) deal with Deutsche Bank AG (DB) to lessen credit risks for certain securities in its portfolio. Through this arrangement, the company could unload risks from $1.16 billion portfolio of collateralized...
30Jul2010 | vitalstocks | 0 comments | Continued(ZION) Zions Prices $125 Million in Preferred Stock
On Friday, Zions Bancorp. (ZION) announced that it has priced 5 million preferred shares worth $125 million at an initial public offering price of $25 per depositary share. The offering is priced at an initial dividend rate of 11%. Post offering, each depositary share represents...
14Jun2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorp Trims Loss – Earnings Surpass Estimates
On Monday, Zions Bancorp (ZION) reported first quarter 2010 net loss of $86.5 million or 57 cents per share, compared to a net loss of $176.5 million or $1.26 in the prior quarter and a net income of $852.3 million or $7.47 in the prior-year quarter. The reported quarter included...
20Apr2010 | vitalstocks | 0 comments | Continued(WABC) Westamerica Bancorp Earnings Report Beats by a Penny
Westamerica Bancorp. (WABC) reported first-quarter earnings per share of 80 cents, beating the Zacks Consensus Estimate and prior-quarter profit of 79 cents. However, earnings was lower than $1.80 per share reported in the year-ago quarter. In the year-ago quarter, Westamerica...
14Apr2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Sets Exchange Ratio for Notes
On Thursday, Zions Bancorporation (ZION) announced the exchange ratios for swapping its common stock to its outstanding non-convertible subordinated notes. Deutsche Bank Securities Inc., a wing of Deutsche Bank AG (DB) and Goldman, Sachs & Co., a wing of Goldman Sachs Group...
27Mar2010 | vitalstocks | 0 comments | Continued(USB) FDIC Figures Show U.S. Bank Failures Reach 26 in 2010
Though the economy is showing signs of a gradual recovery, tumbling home prices, soaring loan defaults and rising unemployment continue to take their toll on small banks. As a result, U.S. regulators on Friday shuttered four more banks in Florida, Illinois, Maryland and Utah....
8Mar2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation’s Note Conversion Update
Zions Bancorporation (ZION) recently announced the beginning of an exchange offer to replace any or all of its currently outstanding non-convertible subordinated notes into shares of Zions’ common stock. This will be based on the relevant price, the applicable note price...
4Mar2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorp Analysts Upgrade to Neutral
Given the current market recovery factor and valued growth indicators, we are upgrading our recommendation on the shares of Zions Bancorp. (ZION) to Neutral from Underperform. Although the current economic turmoil has weakened both the revenue growth and the operating leverage...
23Feb2010 | vitalstocks | 0 comments | Continued(WABC) Westamerica Bancorp Misses Earnings Estimates
Westamerica Bancorp.’s (WABC) reported fourth quarter earnings per share of 79 cents and missed the Zacks Consensus Estimate of 82 cents. Earnings were higher from 71 cents reported in the year-ago quarter but a couple of pennies below 81 cents reported in the prior quarter....
8Feb2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation’s Loss Slims as They Beat Earnings Estimates
On Monday, Zions Bancorporation (ZION) reported a fourth quarter 2009 net loss of $176.5 million or $1.26 per share, compared to a net loss of $179.5 million or $1.41 in the prior quarter and a net income of $498.1 million or $4.37 in the prior-year quarter. Results were substantially...
26Jan2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Replaces Cash with Stock for Top Executives
Focusing on damage control after the financial crisis, on Dec. 28, Zions Bancorporation (ZION) announced its decision of awarding bonus to its 25 top executives in the form of stock in lieu of cash payments. The decision has been made in order to conform to the regulations under...
31Dec2009 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Finishes Exchange Offer
In an attempt to enhance its financing position in the capital market, Zions Bancorporation (ZION) on Dec 22, 2009 announced its preliminary results of the stock exchange offer from its Series A Floating-Rate Non-Cumulative Perpetual Preferred Stock (Series A Preferred Stock)...
28Dec2009 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Shows Continued Losses
Zions Bancorporation (ZION) reported a third quarter 2009 net loss applicable to common shareholders of $179.5 million or $1.41 per share, compared to net loss of $40.7 million or 35 cents per share in the prior quarter and a net income of $33.4 million or $0.31 per share in...
20Oct2009 | vitalstocks | 0 comments | Continued(CVBF) FDIC Makes it 99 U.S. Bank Failures Reach in 2009
U.S. bank failures continue unabated as U.S. regulators on Friday closed down San Joaquin Bank of Bakersfield, CA. This takes the total number of failed federally insured banks to 99 in 2009, compared to 25 in 2008 and 3 in 2007. As of September 29, San Joaquin Bank, a subsidiary...
19Oct2009 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation – Bear of the Day
Given the high competitive pressures in the banking industry, we expect continuous deposit pricing pressures as well as growth in higher cost funding accounts to weigh on Zions Bancorporation’s (ZION) net interest margins (NIM), creating headwinds on the revenue front. Loan...
16Sep2009 | vitalstocks | 0 comments | Continued(JOYG) Joy Global – Bull of the Day
We are confident about the long-term fundamentals of the mining industry, which is further supported by a sustainable secular shift in commodity demand in the emerging economies. This will provide Joy Global (JOYG) substantial growth potential once the global economy emerges...
16Sep2009 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorp- Bear of the Day
While Zions Bancorp (ZION) net interest margin and deposit growth remain satisfactory, credit quality continues to deteriorate, necessitating high levels of loss provisions. The company has been successful in enhancing capital ratios and making efforts on the cost control front,...
4Sep2009 | vitalstocks | 0 comments | Continued(ZION) Zions Completes New Common Stock Offering
On August 27, Zions Bancorp (ZION) successfully completed a $250 million offering of new common stock. During the third quarter, the bank holding company issued 7.6 million common shares at an average price of $16.13 each, for gross proceeds of $123.5 million. During the second...
1Sep2009 | vitalstocks | 0 comments | Continued