Wall Street analysts predict that Zions Bancorp (NASDAQ:ZION) will announce sales of $700.03 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Zions Bancorp’s earnings. The lowest sales estimate is $690.00 million and the highest is $706.00 million. Zions Bancorp reported sales of $661.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.9%. The business is expected to announce its next earnings results after the market closes on Monday, October 22nd.
On average, analysts expect that Zions Bancorp will report full-year sales of $2.78 billion for the current fiscal year, with estimates ranging from $2.75 billion to $2.80 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.91 billion, with estimates ranging from $2.83 billion to $3.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Monday, July 23rd. The bank reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.03). The company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $687.26 million. Zions Bancorp had a return on equity of 10.86% and a net margin of 25.03%. During the same quarter in the prior year, the company earned $0.73 earnings per share.
A number of brokerages have commented on ZION. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, July 16th. Raymond James upgraded shares of Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. ValuEngine upgraded shares of Zions Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of Zions Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Finally, BMO Capital Markets restated a “hold” rating and issued a $55.00 target price on shares of Zions Bancorp in a research note on Thursday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Zions Bancorp presently has an average rating of “Buy” and a consensus target price of $59.58.
In other news, General Counsel Thomas E. Laursen sold 945 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.73, for a total transaction of $49,829.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leeanne B. Linderman sold 5,006 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $53.62, for a total transaction of $268,421.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,896 shares of company stock worth $1,016,029. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in Zions Bancorp during the second quarter valued at approximately $122,000. NumerixS Investment Technologies Inc purchased a new stake in Zions Bancorp during the second quarter valued at approximately $158,000. Tower Research Capital LLC TRC lifted its position in Zions Bancorp by 1,637.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock valued at $183,000 after acquiring an additional 3,275 shares during the last quarter. Crewe Advisors LLC lifted its position in Zions Bancorp by 100.0% during the second quarter. Crewe Advisors LLC now owns 4,000 shares of the bank’s stock valued at $210,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Highlander Capital Management LLC lifted its position in Zions Bancorp by 66.7% during the second quarter. Highlander Capital Management LLC now owns 5,000 shares of the bank’s stock valued at $263,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.
ZION stock traded down $0.96 during mid-day trading on Wednesday, reaching $48.22. The company had a trading volume of 3,725,084 shares, compared to its average volume of 2,193,446. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $9.75 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.38 and a beta of 1.40. Zions Bancorp has a 12 month low of $43.50 and a 12 month high of $59.19.
Zions Bancorp Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily 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 management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
See Also: Price to Earnings Ratio (PE)
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