Zacks: Analysts Anticipate Zions Bancorp (ZION) to Post $1.06 EPS

Equities analysts expect that Zions Bancorp (NASDAQ:ZION) will report $1.06 earnings per share (EPS) for the current quarter, Zacks reports. Ten analysts have issued estimates for Zions Bancorp’s earnings. The lowest EPS estimate is $1.01 and the highest is $1.11. Zions Bancorp posted earnings of $0.80 per share during the same quarter last year, which would indicate a positive year over year growth rate of 32.5%. The firm is expected to issue its next earnings report after the market closes on Tuesday, January 22nd.

According to Zacks, analysts expect that Zions Bancorp will report full-year earnings of $4.08 per share for the current year, with EPS estimates ranging from $4.04 to $4.14. For the next year, analysts anticipate that the business will post earnings of $4.33 per share, with EPS estimates ranging from $4.20 to $4.66. Zacks’ EPS 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 quarterly earnings data on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. The business had revenue of $701.00 million for the quarter, compared to analyst estimates of $699.87 million. During the same period last year, the business posted $0.72 earnings per share.

Several brokerages have issued reports on ZION. Robert W. Baird upgraded shares of Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $49.00 price target on the stock in a research note on Tuesday, October 23rd. BMO Capital Markets lowered their price target on shares of Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 23rd. Raymond James lowered their price target on shares of Zions Bancorp from $62.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. Argus began coverage on shares of Zions Bancorp in a research note on Monday, December 17th. They issued a “buy” rating and a $51.00 price target on the stock. Finally, Deutsche Bank lowered their price target on shares of Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Zions Bancorp presently has an average rating of “Hold” and an average price target of $57.76.

Shares of NASDAQ:ZION traded up $0.84 during midday trading on Thursday, reaching $46.59. 3,951,666 shares of the company were exchanged, compared to its average volume of 2,453,422. Zions Bancorp has a fifty-two week low of $38.08 and a fifty-two week high of $59.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.94 and a beta of 1.43.

In other news, General Counsel Thomas E. Laursen sold 1,381 shares of Zions Bancorp stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $48.33, for a total value of $66,743.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leeanne B. Linderman sold 5,878 shares of Zions Bancorp stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $50.26, for a total transaction of $295,428.28. The disclosure for this sale can be found here. In the last three months, insiders sold 19,259 shares of company stock valued at $929,772. Insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. National Pension Service bought a new stake in shares of Zions Bancorp during the 3rd quarter worth about $134,000. Huntington National Bank boosted its holdings in shares of Zions Bancorp by 2,443.4% during the 3rd quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock worth $164,000 after buying an additional 3,152 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Zions Bancorp by 1,637.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock worth $183,000 after buying an additional 3,275 shares during the period. First Personal Financial Services bought a new stake in shares of Zions Bancorp during the 3rd quarter worth about $191,000. Finally, Commerce Bank bought a new stake in shares of Zions Bancorp during the 3rd quarter worth about $206,000. 94.24% of the stock is owned by institutional investors.

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.

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