Wall Street analysts expect that Zions Bancorp (NASDAQ:ZION) will post sales of $667.82 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Zions Bancorp’s earnings, with estimates ranging from $662.00 million to $683.11 million. Zions Bancorp reported sales of $621.00 million in the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The business is expected to report its next earnings results on Monday, April 23rd.
On average, analysts expect that Zions Bancorp will report full-year sales of $667.82 million for the current year, with estimates ranging from $2.70 billion to $2.84 billion. For the next financial year, analysts anticipate that the business will report sales of $2.91 billion per share, with estimates ranging from $2.81 billion to $3.02 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company 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 in the prior year, the business posted $0.60 earnings per share.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Zions Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. B. Riley reiterated a “buy” rating and set a $60.00 price target on shares of Zions Bancorp in a research report on Tuesday, January 23rd. DA Davidson reiterated a “buy” rating and set a $62.00 price target on shares of Zions Bancorp in a research report on Tuesday, January 23rd. Royal Bank of Canada increased their price target on Zions Bancorp from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 24th. Finally, Zacks Investment Research downgraded Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Zions Bancorp currently has a consensus rating of “Buy” and a consensus target price of $55.22.
In related news, insider Dianne R. James sold 1,500 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $54.25, for a total transaction of $81,375.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,250 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,040 shares of company stock worth $2,806,600. Company insiders own 1.46% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC purchased a new position in Zions Bancorp during the fourth quarter worth approximately $102,000. Delpha Capital Management LLC purchased a new position in Zions Bancorp during the fourth quarter worth approximately $107,000. G&S Capital LLC purchased a new position in Zions Bancorp during the fourth quarter worth approximately $115,000. Tower Research Capital LLC TRC lifted its position in Zions Bancorp by 1,274.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock worth $140,000 after buying an additional 2,562 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in Zions Bancorp by 2,081.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after buying an additional 2,872 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.
Shares of Zions Bancorp (NASDAQ ZION) traded up $0.30 during mid-day trading on Monday, reaching $55.07. The company’s stock had a trading volume of 2,128,383 shares, compared to its average volume of 2,580,000. The stock has a market capitalization of $11,000.00, a P/E ratio of 21.02, a P/E/G ratio of 1.63 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 52 week low of $38.43 and a 52 week high of $55.61.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, February 14th. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio (DPR) is 30.53%.
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Zions Bancorp 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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