On Wednesday, Zions Bancorporation (NASDAQ:ZION)’s shares declined -2.15% to $29.98.
Zions Bancorporation (ZION) stated second quarter net income of $14.0 million and a net loss applicable to common shareholders of $(1.1) million, or $(0.01) per diluted common share. During the second quarter, the Company sold the remaining portfolio of its collateralized debt obligation (“CDO”) securities and recognized a one-time pretax loss of about $137 million, or $0.42 after-tax per diluted common share. Shareholders’ equity was not adversely affected as the loss had been formerly recognized in accumulated other comprehensive income (“AOCI”). Not taking into account the loss, net earnings applicable to common shareholders was $83.4 million, or $0.41 per diluted common share, for the second quarter of 2015, contrast to $75.3 million, or $0.37 per diluted common share, for the first quarter of 2015.
Second Quarter 2015 Highlights
- Credit quality metrics were generally stable with a decrease in nonaccruing loans and a slight enhance in classified loans from the preceding quarter. Annualized net charge-offs were 0.11% of average loans. The overall effect contributed to a $0.6 million provision for loan losses.
- Total noninterest expense was $404 million during the second quarter and $802 million year-to date. Certain one-time and seasonal expenses during the second quarter of 2015 were partially offset by other expense credits, counting insurance recoveries of $9.2 million. The Company is maintaining its commitment to hold noninterest expenses below $1.6 billion in 2015 and 2016.
- Loan balances, not taking into account energy-related loans, raised $128 million during the second quarter contrast to a $25 million enhance during the first quarter calculated on the same basis. Energy-related loans declined $284 million linked quarter. Overall, net loans and leases declined $156 million during the second quarter.
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. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending.
Nordstrom, Inc. (NYSE:JWN)’s shares dropped -0.96% to $75.51.
Nordstrom, Inc. (JWN) declared that it will report its second quarter 2015 financial results after the close of the financial markets on Thursday, August 13, 2015. The declarement will be followed by a conference call at 4:45 p.m. Eastern Daylight Time, in which senior administration will comment on the company’s second quarter financial results and 2015 outlook. The 45-minute conference call will be accessible by telephone and audio webcast. Located within the Quarterly Earnings section of the company’s website will be a Performance Summary document, together with slides that will be referenced during the conference call. After the conference call the speakers’ prepared remarks will be accessible in the Quarterly Earnings section.
Nordstrom, Inc., a fashion specialty retailer, offers apparel, shoes, cosmetics, and accessories for men, women, and children in the United States and Canada. It operates through two segments, Retail and Credit. The Retail segment offers a selection of brand name and private label merchandise through various channels, counting Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; and other retail channels, counting Trunk Club showrooms and TrunkClub.com, Jeffrey boutiques, and clearance store that operates under the name Last Chance.
At the end of Wednesday’s trade, Callon Petroleum Company (NYSE:CPE)‘s shares surged 6.31% to $8.76.
Callon Petroleum Company (CPE) declared that senior administration plans to take part in the forthcoming investor event:
EnerCom Oil & Gas Conference 20
The Company will present at the Oil & Gas Conference 20, hosted by EnerCom in Denver, CO on Tuesday, August 18, 2015 at 12:05 pm Eastern Time.
Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas properties in the Permian Basin in West Texas. As of December 31, 2014, its estimated net proved reserves totaled 32.8 million barrel of oil equivalent, counting 25.7 million barrels of oil and 42.5 billion cubic feet of natural gas. The company was founded in 1950 and is headquartered in Natchez, Mississippi.
Ally Financial Inc (NYSE:ALLY), ended its Wednesday’s trading session with -0.50% loss, and closed at $21.81.
In honor of Back-to-School season, Ally Financial joined with local nonprofit Classroom Central to donate school supplies to all 830 students at Thomasboro Academy in Charlotte, N.C. Each student will receive a package of the school supplies they need for the year. In addition, Ally has also contributed 50 books for the school’s library that are focused on various financial literacy concepts and span all grade levels from pre-kindergarten through eighth grade.
The school supply donation to Thomasboro Academy supports Ally’s overall commitment to advancing financial literacy and education. Ally has worked with Classroom Central since 2012 to support Charlotte-area schools through donations, school supply drives and volunteerism. Ally also offers free information for consumers nationwide on topics like budgeting, saving, auto financing, and banking and investing through its Wallet Wise financial literacy program.
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
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