Shares of Encore Capital Group (NASDAQ:ECPG) surged 13.1% after reporting Q3 results exceeding Wall Street’s expectations. Revenue of $460.4 million was up 25.4%, with EPS at $3.17 beating estimates by 60.1%. Collections drove profitability, with a pre-tax margin of 21.7%. Encore Capital’s shares are volatile, with 17 moves exceeding 5% in the last year.

Zions Bancorp faced a sharp stock drop after disclosing a $50 million loss on two commercial loans, leading to a $60 million provision for credit losses. This news triggered a sell-off affecting the SPDR S&P Regional Banking ETF. Concerns also arose over Western Alliance Bancorp’s borrower lacking proper collateral, impacting the financial industry.

Encore Capital Group is trading at $48.46, up 3.1% YTD and near its 52-week high. Investors who bought $1,000 of ECPG shares 5 years ago would now see a $1,546 return. A recent book predicted tech dominance by Microsoft and Apple, highlighting the rise of enterprise software companies utilizing generative AI as the new industry leaders.

Read more at Yahoo Finance: Why Encore Capital Group (ECPG) Stock Is Up Today