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%.
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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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