Zions Bancorp Missed The Q2 Mark, Reports Wider Loss Than Q1

Zions Bancorp. (NASDAQ:ZION) reported a Q2 net loss of $135.2 million, or $0.84 per share, compared to a loss of $86.5 million, or $0.57 per share, in the first quarter. Revenues for the quarter were $522.76 million.

On average, analysts expected a Q2 loss of $0.55 per share on revenues of $557.41 million.

CEO Harris Simmons said, "We are encouraged with the decline in nonperforming lending-related assets, as well as an improvement in other problem credits; notably, more than 80% of the improvement in nonaccrual loans occurred in construction and term commercial real estate. Additionally, the capital raises completed during the quarter brought total capital ratios to record high levels."

SmarTrend currently has Zions Bancorporation in an Uptrend and is currently monitoring these developments and will alert subscribers to any change of trend.

Zions Bancorporation is a bank holding company that operates full-service banking offices in western United States. The company also offers an array of investment, mortgage, insurance, and electronic commerce services. In addition, Zions provides financing solutions for small businesses across the United States.

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