Brokerages expect Zions Bancorp (NASDAQ:ZION) to report earnings of $0.82 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Zions Bancorp’s earnings. The lowest EPS estimate is $0.74 and the highest is $0.88. Zions Bancorp posted earnings of $0.61 per share in the same quarter last year, which would indicate a positive year over year growth rate of 34.4%. The firm is expected to issue its next quarterly earnings results on Monday, April 23rd.
On average, analysts expect that Zions Bancorp will report full year earnings of $3.66 per share for the current fiscal year, with EPS estimates ranging from $3.35 to $3.96. For the next year, analysts expect that the company will report earnings of $4.00 per share, with EPS estimates ranging from $3.50 to $4.36. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last released its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $665.00 million for the quarter, compared to analyst estimates of $670.55 million. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. During the same quarter in the previous year, the business earned $0.60 earnings per share.
Several equities analysts have recently weighed in on ZION shares. BMO Capital Markets upped their price objective on shares of Zions Bancorp and gave the company a “market perform” rating in a report on Tuesday, January 23rd. DA Davidson reiterated a “buy” rating and set a $62.00 price objective on shares of Zions Bancorp in a report on Tuesday, January 23rd. Wells Fargo & Co reiterated an “outperform” rating and set a $65.00 price objective (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. Sanford C. Bernstein set a $58.00 price objective on shares of Zions Bancorp and gave the company a “hold” rating in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada upped their price objective on shares of Zions Bancorp to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Zions Bancorp presently has an average rating of “Buy” and an average price target of $54.78.
In related news, insider Joseph L. Reilly sold 23,271 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total value of $1,086,755.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction of $67,850.00. The disclosure for this sale can be found here. Insiders sold a total of 52,425 shares of company stock worth $2,513,426 in the last 90 days. 1.46% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in Zions Bancorp in the 4th quarter worth about $102,000. Tower Research Capital LLC TRC grew its position in Zions Bancorp by 1,274.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock worth $140,000 after purchasing an additional 2,562 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Zions Bancorp by 2,081.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after purchasing an additional 2,872 shares in the last quarter. Blue Sky Asset Management LLC bought a new stake in Zions Bancorp in the 4th quarter worth about $157,000. Finally, Virtu Financial LLC bought a new stake in Zions Bancorp in the 4th quarter worth about $200,000. 93.30% of the stock is owned by institutional investors and hedge funds.
Zions Bancorp (NASDAQ:ZION) opened at $51.64 on Friday. The stock has a market cap of $10,310.00, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.60 and a beta of 1.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $55.61.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio is currently 24.43%.
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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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