Zions Bancorp Shares Up 3% Despite Q3 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/ZION'>Zions Bancorp (NASDAQ:ZION)</a> shares were up more than 3% Tuesday afternoon despite the company’s reported Q3 results, with EPS of $1.40 coming in worse than the Street estimate of $1.56.</p>
<p>Core bank results were solid with favorable spread revenue dynamics despite a moderate decline in deposit balances. Net interest income grew 11.8% sequentially to $663 million reflecting the rate environment as the margin increased 37 bps sequentially to 3.24%. </p>
<p>Management maintained its 12-month outlook and continued to suggest growth across most categories, including moderately higher loan balances, rising latent and emergent asset sensitivity driving higher net interest income, and slightly increasing customer-related fees.</p>
<p>Meanwhile, adjusted expenses are expected to increase moderately due to inflationary pressures and the build-out of the company’s capital markets business.</p>

NASDAQ:ZION