ZION - Zions Q1 earnings beat with reserve release as economic outlook improves

Zions Bancorporation (ZION) stock rises 2.2% in after-hours trading after the bank says improved confidence in the economic outlook, combined with rising capital ratios, is expected to allow for more active capital management.That implies the potential for increased dividends and/or stock buybacks.Q1 adjusted EPS of $1.81 beats the average analyst estimate of $1.18 and increased from $1.59 in Q4 2020 and 12 cents in Q1 2020.Q1 provision for credit loss was a benefit of $132M vs. a benefit of $67M in Q4 and provision of $258M in Q1 2020.Q1 pre-provision net revenue of $253M slips from $280M in Q4 2020 and $299M in Q1 2020.Interest income from PPP loans increases to $60M in Q1 from $55M in Q4 2020 and $52M in Q3.Q1 net interest income of $545M falls from $550M in Q4 2020 and $548M in the year-ago quarter; net interest margin of 2.86% declines from 2.95% in Q4 and

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Zions Q1 earnings beat with reserve release as economic outlook improves