Zions Reports Higher Profit In Q3 - Quick Facts

(RTTNews) - Zions Bancorporation (ZION) reported third-quarter net income of to shareholders of $209.71 million or $1.12 per share, compared to $62.32 million or $0.34 per share, last year. In the third quarter, the company redeemed the entire $800 million par amount of its Series C preferred stock that had a carrying value of $926 million, which increased net earnings applicable to common shareholders by $126 million after-tax, or $0.68 per share.

On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.42 for the quarter. Analysts' estimates typically exclude special items.

Net interest income declined to $415.52 million, from $438.16 million, a year ago. Total noninterest income was $122.19 million, compared to $125.23 million, prior year. Analysts expected revenue of $560.33 million for the quarter.