Zions Bancorporation (ZION) Expected to Announce Earnings of $0.73 Per Share
Brokerages expect Zions Bancorporation (NASDAQ:ZION) to report earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Zions Bancorporation’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.78. Zions Bancorporation reported earnings per share of $0.60 in the same quarter last year, which indicates a positive year-over-year growth rate of 21.7%. The business is scheduled to report its next quarterly earnings results on Monday, January 22nd.
On average, analysts expect that Zions Bancorporation will report full-year earnings of $2.80 per share for the current financial year, with EPS estimates ranging from $2.75 to $2.91. For the next fiscal year, analysts expect that the company will report earnings of $3.12 per share, with EPS estimates ranging from $2.89 to $3.42. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Zions Bancorporation.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same quarter last year, the company earned $0.57 EPS.
A number of analysts recently issued reports on the company. Jefferies Group LLC reissued a “buy” rating and set a $54.00 target price on shares of Zions Bancorporation in a research note on Thursday, October 12th. Royal Bank Of Canada increased their price objective on Zions Bancorporation from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. BMO Capital Markets reissued a “hold” rating and issued a $47.00 price objective on shares of Zions Bancorporation in a report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 price target on shares of Zions Bancorporation in a report on Tuesday, October 3rd. Finally, BidaskClub downgraded Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $48.50.
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In other Zions Bancorporation news, Director Roger B. Porter acquired 1,616 shares of Zions Bancorporation stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $43.99 per share, for a total transaction of $71,087.84. Following the purchase, the director now directly owns 42,001 shares of the company’s stock, valued at $1,847,623.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.46% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in Zions Bancorporation during the 2nd quarter worth about $108,000. Exane Derivatives purchased a new stake in Zions Bancorporation during the 2nd quarter worth about $132,000. Americafirst Capital Management LLC purchased a new stake in Zions Bancorporation during the 2nd quarter worth about $175,000. Global X Management Co. LLC lifted its holdings in Zions Bancorporation by 58.6% during the 2nd quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock worth $210,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Conning Inc. purchased a new stake in Zions Bancorporation during the 3rd quarter worth about $210,000. 95.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zions Bancorporation (NASDAQ:ZION) traded up $1.06 during mid-day trading on Wednesday, hitting $46.49. The stock had a trading volume of 4,487,100 shares, compared to its average volume of 2,529,005. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The company has a market cap of $9,074.36, a PE ratio of 17.08, a PEG ratio of 1.75 and a beta of 1.48. Zions Bancorporation has a one year low of $36.57 and a one year high of $48.33.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.64 annualized dividend and a yield of 1.38%. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio is 18.05%.
Zions Bancorporation Company Profile
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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