Zions Bancorp (ZION) Expected to Post Quarterly Sales of $668.14 Million

Analysts forecast that Zions Bancorp (NASDAQ:ZION) will announce $668.14 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Zions Bancorp’s earnings, with the lowest sales estimate coming in at $661.00 million and the highest estimate coming in at $683.11 million. Zions Bancorp reported sales of $621.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The firm is expected to issue its next quarterly earnings results on Monday, April 23rd.

According to Zacks, analysts expect that Zions Bancorp will report full year sales of $668.14 million for the current fiscal year, with estimates ranging from $2.70 billion to $2.84 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.91 billion per share, with estimates ranging from $2.81 billion to $3.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Zions Bancorp.

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Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. The business had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $670.55 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share.

Several research analysts have weighed in on ZION shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $60.00 price objective on shares of Zions Bancorp in a research report on Friday, December 22nd. BidaskClub lowered Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Morgan Stanley boosted their target price on Zions Bancorp from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Wells Fargo restated an “outperform” rating and issued a $65.00 target price (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Finally, B. Riley restated a “buy” rating and issued a $64.00 target price (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.67.

ZION stock traded down $1.84 during mid-day trading on Friday, reaching $51.23. The company’s stock had a trading volume of 3,384,442 shares, compared to its average volume of 2,536,945. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. Zions Bancorp has a twelve month low of $38.43 and a twelve month high of $57.29. The stock has a market capitalization of $10,827.94, a PE ratio of 19.70, a P/E/G ratio of 1.61 and a beta of 1.37.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were paid a $0.20 dividend. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, February 14th. Zions Bancorp’s dividend payout ratio is currently 30.77%.

In other news, General Counsel Thomas E. Laursen sold 1,250 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total value of $67,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $56.15, for a total value of $1,758,000.35. The disclosure for this sale can be found here. Insiders sold a total of 57,224 shares of company stock valued at $3,156,817 over the last quarter. Company insiders own 1.46% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Zions Bancorp during the 4th quarter valued at about $102,000. Delpha Capital Management LLC purchased a new stake in Zions Bancorp during the 4th quarter valued at about $107,000. G&S Capital LLC purchased a new stake in Zions Bancorp during the 4th quarter valued at about $115,000. Tower Research Capital LLC TRC boosted its holdings in Zions Bancorp by 1,274.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after acquiring an additional 2,562 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in Zions Bancorp by 2,081.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after purchasing an additional 2,872 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

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About Zions Bancorp

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

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