Company Overview and News
Zions Bancorporation (ZION - Free Report) remains well poised for revenue growth, supported by continued improvement in loan balances along with higher rates. Moreover, the regulatory nod for removal of the label of systemically important financial institution (“SIFI”) is a major positive for the company. However, increasing expenses and a risky loan portfolio are major concerns for Zions. Despite strong fundamentals, the Zacks Consensus Estimate for current-year earnings has been marginally revised downward over the past 30 days, reflecting that analysts are not very optimistic regarding the company’s earnings growth potential.
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The restructuring process that begun with an aim to “reduce or eliminate operating and regulatory burdens and inefficiencies” and lower operating expenses is finally coming to an end. Zions Bancorporation (ZION - Free Report) has received regulatory approval for the removal of the “systemically important financial institution" (SIFI) label. The Financial Stability Oversight Council (FSOC) voted 9 to 0 to remove Zions from SIFI list, thereby, freeing the bank from stricter regulatory oversight by the Federal Reserve.
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Zions Bancorporation (ZION - Free Report) and its subsidiary’s ratings have been affirmed by Moody’s Investors Service, the rating arm of Moody’s Corporation (MCO - Free Report) . The outlook for the company has been upgraded to positive from stable. Zions’ senior unsecured rating has been affirmed at (P)Baa3. Its subsidiary’s Baseline Credit Assessment (BCA) stands at baa2 while its issuer rating has been affirmed at Baa3.
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Welcome to the Fiserv 2018 second quarter earnings conference call. All participants will be in a listen-only mode until the question-and-answer session begins following the presentation. As a reminder, today's call is being recorded.
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SVB Financial Group’s (SIVB - Free Report) second-quarter 2018 earnings of $4.42 per share significantly outpaced the Zacks Consensus Estimate of $3.86. Also, the figure compared favorably with the prior-year quarter’s earnings of $2.32 per share. Results were primarily driven by higher net interest income (NII) and non-interest income. Moreover, loan and deposit balances reflected strength. However, higher non-interest expenses and a drastic surge in provision for credit losses acted as headwinds.
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Prosperity Bancshares Inc.’s (PB - Free Report) second-quarter 2018 earnings of $1.17 per share surpassed the Zacks Consensus Estimate of $1.15. Moreover, the figure improved 18.2% on a year-over-year basis. Results were primarily driven by an improvement in revenues. Also, increasing loan balances supported results to some extent. However, an increase in expenses and higher provisions were the undermining factors.
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Good day, ladies and gentlemen, and welcome to the Zions Bancorporation Second Quarter 2018 Earnings Results Webcast. At this time, all participants are in a listen-only mode. Later, we will conduct the question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, this conference call is being recorded.
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Most banks that reported second-quarter 2018 results this week managed to record bottom-line improvement on the back of rising rates, lower provisions and improved trading activities. This also led to positive price movement for most bank stocks over the last five trading days. In addition to the benefits from higher interest rates, banks’ results mirrored a marginal upswing in loans. Moreover, the results display eased margin pressure.
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Zions Bancorporation (ZION - Free Report) is scheduled to announce second-quarter 2018 results on Jul 23, after the market closes. Its revenues and earnings for the quarter under review are projected to grow year over year. In the last reported quarter, Zions’ earnings outpaced the Zacks Consensus Estimate. Higher revenues and benefit from provisions aided results. However, higher adjusted non-interest expenses were the undermining factor.
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First Republic Bank’s (FRC - Free Report) second-quarter 2018 earnings per share came in at $1.20, outpacing the Zacks Consensus Estimate of $1.15. Moreover, the reported figure climbed 13.2% from the year-ago tally. Revenues improved from the prior-year quarter. In addition, a considerable rise in loans and deposit balances was recorded. However, despite rising rates, net interest margin disappointed on high deposit costs.
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The Federal Reserve’s first round of stress test this year reflects that the nation’s biggest banks are ‘well capitalized.’ On Thursday, the Fed released the Dodd-Frank Act supervisory stress test 2018 (DFAST 2018) results. It shows that all 35 banks (including the U.S. units of foreign banks with $50 billion or more in total consolidated assets) are adequately capitalized to survive under tremendously difficult economic conditions.
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WASHINGTON, June 22 — Big banks cleared the first hurdle of this year’s US stress tests as the Federal Reserve found all 35 lenders examined could withstand a severe economic downturn, though Goldman Sachs Group Inc trailed the rest of Wall Street in a key measure of leverage.
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The nation’s biggest banks are strong enough to continue lending if the economy plunges into a severe downturn, an assessment by the Federal Reserve on Thursday that could fuel Wall Street’s calls to further relax financial regulations.
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2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...
2018-09-18 - Asif
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2018-09-18 - Asif
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as of ET