On Tuesday, Zions Bancorporation (NASDAQ:ZION)’s shares inclined 0.44% to $32.26.
Zions Bancorporation (ZION) hopes to achieve an efficiency ratio in the low 60s by fiscal 2017 as a result of the restructuring. The efficiency ratio is a measure of a bank’s overhead cost as a percentage of revenue. Thus, it signifies a bank’s ability to turn costs into revenues. A lower efficiency ratio indicates lowering costs or increasing revenues. The average efficiency ratio for regional banks within the XLF portfolio is 65.2 as compared to 73.1 for Zions, which is much higher.
Zions will maintain non-interest expenses below $1.60 billion in 2015 and 2016, and enhance that figure somewhat in 2017. For 1Q15, non-interest expense was $397 million, which improved from $423 million in the prior quarter. The company also aims to achieve double-digit returns on common equity over the long term contrast to 5.52 in the last quarter.
The net interest margin (or NIM) reduced to 3.22% in 1Q15 contrast to 3.25% in the fourth quarter of 2014, primarily due to lower loan yields on new production. Net interest income declined slightly by 0.08% year-over-year in 1Q15 as compared to an industry average decline of 2.8%.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.
Horizon Pharma PLC (NASDAQ:HZNP)’s shares dropped -0.47% to $31.73.
Horizon Pharma PLC (HZNP) pulled back from all-time highs this week, but traders are buying more time for shares to resume their monster rally.
optionMONSTER’s Heat Seeker system detected the sale off 5,000 June 30 calls for $1.40 and the purchase of 5,000 July 32 calls for the ask price of $1.50. Volume was below previous open interest in the near-term contracts, indicating that a long position was rolled forward.
The trader is closing the June contracts, which expire at the end of next week, and paying a net $0.10 to stay in the trade for another month at a higher strike price. The new long calls, which lock in the purchase price of the stock and can provide noteworthy leverage, are looking for shares to rally by expiration in mid-July.
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
At the end of Tuesday’s trade, Retail Properties of America Inc (NYSE:RPAI)‘s shares surged 2.09% to $14.68.
Retail Properties of America Inc (RPAI) declared that it will release financial results for the second quarter ended June 30, 2015, after the market closes on Tuesday, August 4, 2015. The Company will host a conference call on Wednesday, August 5, 2015, at 11:00 AM (EDT) to talk about the financial results. In addition, the Company may talk about business and financial highlights, developments and trends and other matters affecting the Company.
Retail Properties of America, Inc. is a real estate investment trust. It engages in acquisition, development and administration of properties. The trust invests in the real estate markets of United States. Its portfolio comprises of retail properties, counting lifestyle, power, neighborhood, and community centers, in addition to single-user net lease properties.
Boeing Co (NYSE:BA), ended its Tuesday’s trading session with 0.04% gain, and closed at $142.34.
Boeing Co (BA) and Sriwijaya Air declared an order for two Next-Generation 737-900ER (Extended Range) airplanes during a signing ceremony at the Paris Air Show.
The order, formerly attributed to an unidentified customer on the Orders and Deliveries website, marks the first all-new airplane purchase for the Indonesian airline and comprised of a letter of intent to exercise options for up to 20 additional 737 airplanes.
Based in Jakarta, Indonesia, Sriwijaya Air is the country’s third largest carrier. The airline operates an all-Boeing fleet of 737 airplanes and offers flights to various Indonesian destinations in addition to a few international cities.
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in five segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital.
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