Brokerages Expect Zions Bancorp (ZION) Will Announce Earnings of $0.83 Per Share

Equities analysts predict that Zions Bancorp (NASDAQ:ZION) will report earnings of $0.83 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Zions Bancorp’s earnings, with the lowest EPS estimate coming in at $0.78 and the highest estimate coming in at $0.90. Zions Bancorp reported earnings per share of $0.61 during the same quarter last year, which suggests a positive year over year growth rate of 36.1%. The firm is expected to announce its next earnings results on Monday, April 23rd.

On average, analysts expect that Zions Bancorp will report full-year earnings of $3.70 per share for the current fiscal year, with EPS estimates ranging from $3.46 to $3.99. For the next year, analysts anticipate that the firm will report earnings of $4.08 per share, with EPS estimates ranging from $3.71 to $4.63. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Zions Bancorp.

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

Several equities analysts have recently weighed in on the company. Piper Jaffray restated a “hold” rating on shares of Zions Bancorp in a report on Tuesday, March 6th. B. Riley restated a “buy” rating and issued a $64.00 price objective (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, February 27th. Sandler O’Neill restated a “buy” rating and issued a $62.00 price objective on shares of Zions Bancorp in a report on Friday, March 9th. UBS assumed coverage on Zions Bancorp in a report on Wednesday, March 21st. They issued a “buy” rating and a $67.00 price objective for the company. Finally, Raymond James Financial upgraded Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a report on Thursday, March 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.67.

Shares of NASDAQ ZION traded down $1.45 during mid-day trading on Monday, hitting $51.44. The company had a trading volume of 2,471,774 shares, compared to its average volume of 2,331,854. The stock has a market capitalization of $10,393.64, a price-to-earnings ratio of 17.99, a PEG ratio of 1.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. Zions Bancorp has a one year low of $38.43 and a one year high of $57.29.

In related news, insider Steven Dan Stephens sold 7,100 shares of Zions Bancorp stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $54.87, for a total transaction of $389,577.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of Zions Bancorp 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 have sold 57,224 shares of company stock valued at $3,156,817 in the last quarter. 1.46% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its position in Zions Bancorp by 4.0% during the third quarter. Wells Fargo & Company MN now owns 2,255,672 shares of the bank’s stock worth $106,423,000 after acquiring an additional 87,108 shares during the last quarter. HWG Holdings LP acquired a new stake in Zions Bancorp during the fourth quarter worth approximately $1,656,000. Stansberry Asset Management LLC acquired a new stake in Zions Bancorp during the fourth quarter worth approximately $2,946,000. Rhumbline Advisers lifted its position in 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. Finally, Financial Counselors Inc. lifted its position in 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 94.63% 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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