Brokerages expect that Zions Bancorp (NASDAQ:ZION) will report sales of $711.38 million for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Zions Bancorp’s earnings, with the lowest sales estimate coming in at $701.70 million and the highest estimate coming in at $719.00 million. Zions Bancorp posted sales of $665.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 7%. The company is expected to issue its next quarterly earnings results on Monday, January 28th.
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 $2.77 billion to $2.80 billion. For the next year, analysts forecast that the firm will post sales of $2.90 billion, with estimates ranging from $2.87 billion to $2.95 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. The company had revenue of $701.00 million for the quarter, compared to analyst estimates of $699.87 million. During the same quarter in the prior year, the company earned $0.72 EPS.
Several brokerages recently commented on ZION. Piper Jaffray Companies upgraded Zions Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a research report on Tuesday. Raymond James upped their target price on Zions Bancorp from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday, October 24th. Deutsche Bank cut their target price on Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. Finally, BMO Capital Markets cut their price target on Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $58.57.
Shares of Zions Bancorp stock traded down $0.26 on Friday, hitting $50.16. 2,155,856 shares of the company’s stock traded hands, compared to its average volume of 3,448,367. Zions Bancorp has a one year low of $43.50 and a one year high of $59.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.43 and a beta of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Tuesday, November 13th. Zions Bancorp’s dividend payout ratio is currently 41.96%.
In other news, insider A Scott Anderson sold 12,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $47.30, for a total value of $567,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,381 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $48.33, for a total value of $66,743.73. The disclosure for this sale can be found here. Insiders sold 24,965 shares of company stock valued at $1,230,717 over the last three months. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of ZION. Broadview Advisors LLC boosted its stake in Zions Bancorp by 3.4% during the third quarter. Broadview Advisors LLC now owns 187,950 shares of the bank’s stock valued at $9,426,000 after buying an additional 6,200 shares during the period. Dean Capital Investments Management LLC bought a new stake in Zions Bancorp during the third quarter valued at $665,000. DekaBank Deutsche Girozentrale boosted its stake in Zions Bancorp by 21.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,596 shares of the bank’s stock valued at $933,000 after buying an additional 2,984 shares during the period. Sarasin & Partners LLP boosted its stake in Zions Bancorp by 2.5% during the third quarter. Sarasin & Partners LLP now owns 1,404,307 shares of the bank’s stock valued at $70,426,000 after buying an additional 34,373 shares during the period. Finally, American International Group Inc. boosted its stake in Zions Bancorp by 5.4% during the third quarter. American International Group Inc. now owns 70,398 shares of the bank’s stock valued at $3,530,000 after buying an additional 3,618 shares during the period. 94.75% of the stock is owned by hedge funds and other 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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