Zions Bancorp Shares Fall 4% Following Q1 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/ZION'>Zions Bancorp (NASDAQ:ZION)</a> shares dropped more than 4% on Thursday after the company reported its Q1 earnings results, with EPS of $1.33 coming in worse than the Street estimate of $1.53. Net interest income dropped 5.7% quarter-over-quarter to $679 million as the margin fell 20 to 3.33%. Loan yields grew 49 bps quarter-over-quarter to 5.30% and securities yields rose 4 bps, while interest-bearing deposit costs increased 50 bps to 0.92%.</p>
<p>Core fundamental trends were softer, with increased pressure on net interest income and margin reflecting the environment and higher deposit betas, as well as higher than expected expenses.</p>
<p>Credit metrics continued to be relatively clean, though management remained conservative with a modest reserve build. The updated fundamental outlook suggests additional margin and net interest income headwinds in the near term given the rate environment and inverted yield curve.</p>

NASDAQ:ZION