Equities research analysts expect Zions Bancorporation (NASDAQ:ZION) to post $670.22 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Zions Bancorporation’s earnings. The highest sales estimate is $676.39 million and the lowest is $661.00 million. Zions Bancorporation reported sales of $608.71 million during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The company is expected to announce its next earnings results on Monday, January 22nd.
On average, analysts expect that Zions Bancorporation will report full-year sales of $670.22 million for the current year, with estimates ranging from $2.60 billion to $2.64 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.75 billion per share, with estimates ranging from $2.69 billion to $2.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Zions Bancorporation.
Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Zions Bancorporation had a net margin of 24.21% and a return on equity of 8.48%. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $666.83 million. During the same period in the prior year, the business posted $0.57 EPS.
A number of research firms recently issued reports on ZION. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 price target on shares of Zions Bancorporation in a research note on Thursday, October 12th. Royal Bank Of Canada raised 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 restated 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 restated a “hold” rating and issued a $48.00 price objective on shares of Zions Bancorporation in a report on Tuesday, October 3rd. Finally, Barclays PLC set a $52.00 price objective on Zions Bancorporation and gave the company an “overweight” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $48.76.
In other Zions Bancorporation news, Director Roger B. Porter purchased 1,616 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $43.99 per share, with a total value of $71,087.84. Following the completion of the acquisition, the director now directly owns 42,001 shares of the company’s stock, valued at approximately $1,847,623.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.46% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. lifted its stake in Zions Bancorporation by 8.6% in the second quarter. Tocqueville Asset Management L.P. now owns 8,675 shares of the bank’s stock valued at $381,000 after buying an additional 688 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Zions Bancorporation by 11.4% in the second quarter. Pacer Advisors Inc. now owns 31,429 shares of the bank’s stock valued at $1,380,000 after buying an additional 3,223 shares during the last quarter. Korea Investment CORP lifted its stake in Zions Bancorporation by 13.6% in the third quarter. Korea Investment CORP now owns 147,400 shares of the bank’s stock valued at $6,954,000 after buying an additional 17,600 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Zions Bancorporation by 16,303.3% in the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock valued at $54,056,000 after buying an additional 1,223,566 shares during the last quarter. Finally, Cipher Capital LP purchased a new stake in Zions Bancorporation in the second quarter valued at approximately $1,665,000. 93.15% of the stock is owned by hedge funds and other institutional investors.
Zions Bancorporation (NASDAQ:ZION) traded up $0.80 during trading on Friday, reaching $47.10. 2,387,128 shares of the company were exchanged, compared to its average volume of 2,519,537. Zions Bancorporation has a 1 year low of $38.03 and a 1 year high of $48.33. The firm has a market cap of $9,250.00, a PE ratio of 17.41, a P/E/G ratio of 1.79 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 14th. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. Zions Bancorporation’s payout ratio is currently 23.97%.
COPYRIGHT VIOLATION NOTICE: This piece of content was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/11/21/zions-bancorporation-zion-expected-to-post-quarterly-sales-of-670-22-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.