Zacks: Analysts Anticipate Zions Bancorp (ZION) Will Post Earnings of $0.92 Per Share

Brokerages expect that Zions Bancorp (NASDAQ:ZION) will announce earnings of $0.92 per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Zions Bancorp’s earnings. The highest EPS estimate is $0.97 and the lowest is $0.87. Zions Bancorp reported earnings per share of $0.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 26%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 24th.

According to Zacks, analysts expect that Zions Bancorp will report full-year earnings of $3.95 per share for the current year, with EPS estimates ranging from $3.70 to $4.17. For the next year, analysts anticipate that the firm will report earnings of $4.16 per share, with EPS estimates ranging from $4.01 to $4.56. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Zions Bancorp.

Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, April 23rd. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.27. Zions Bancorp had a net margin of 24.49% and a return on equity of 10.41%. The business had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $666.12 million. During the same period in the previous year, the company posted $0.61 earnings per share.

A number of research analysts have recently commented on the stock. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. Morgan Stanley upped their price target on shares of Zions Bancorp from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, May 30th. Wedbush started coverage on shares of Zions Bancorp in a report on Monday, May 14th. They issued a “neutral” rating and a $62.00 price target on the stock. Barclays upped their price target on shares of Zions Bancorp from $59.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 24th. Finally, BMO Capital Markets cut their price target on shares of Zions Bancorp from $60.00 to $57.00 and set a “market perform” rating on the stock in a report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $58.29.

Shares of NASDAQ ZION traded down $0.55 during trading on Friday, reaching $55.45. 174,560 shares of the stock were exchanged, compared to its average volume of 2,301,495. Zions Bancorp has a twelve month low of $41.22 and a twelve month high of $59.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. The stock has a market cap of $11.15 billion, a P/E ratio of 19.36, a PEG ratio of 1.54 and a beta of 1.35.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 24th. Shareholders of record on Thursday, May 17th were paid a dividend of $0.24 per share. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 16th. This represents a $0.96 annualized dividend and a yield of 1.73%. Zions Bancorp’s payout ratio is presently 33.57%.

In other Zions Bancorp news, insider David E. Blackford sold 1,024 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $55.51, for a total transaction of $56,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Keith D. Maio sold 9,987 shares of the business’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $55.54, for a total transaction of $554,677.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,315 shares of company stock valued at $2,803,649. 1.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Stansberry Asset Management LLC bought a new position in shares of Zions Bancorp during the fourth quarter worth about $2,946,000. Rhumbline Advisers grew its position in shares of Zions Bancorp by 1.1% during the fourth quarter. Rhumbline Advisers now owns 364,084 shares of the bank’s stock worth $18,506,000 after acquiring an additional 3,973 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Zions Bancorp during the fourth quarter worth about $200,000. Macquarie Group Ltd. grew its position in shares of Zions Bancorp by 30.4% during the fourth quarter. Macquarie Group Ltd. now owns 260,031 shares of the bank’s stock worth $13,217,000 after acquiring an additional 60,578 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in shares of Zions Bancorp by 9.0% during the fourth quarter. Financial Counselors Inc. now owns 52,305 shares of the bank’s stock worth $2,659,000 after acquiring an additional 4,332 shares during the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.

Zions Bancorp Company Profile

Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.

Get a free copy of the Zacks research report on Zions Bancorp (ZION)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit