Zacks: Analysts Expect Zions Bancorp (ZION) to Announce $0.54 Earnings Per Share
Equities analysts expect that Zions Bancorp (NASDAQ:ZION) will post $0.54 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Zions Bancorp’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.60. Zions Bancorp posted earnings per share of $0.38 in the same quarter last year, which suggests a positive year over year growth rate of 42.1%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, April 24th.
According to Zacks, analysts expect that Zions Bancorp will report full-year earnings of $2.46 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.60. For the next fiscal year, analysts anticipate that the business will post earnings of $2.87 per share, with EPS estimates ranging from $2.62 to $3.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last released its earnings results on Monday, January 23rd. The bank reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.08. The company had revenue of $608.71 million for the quarter, compared to the consensus estimate of $612.66 million. Zions Bancorp had a return on equity of 6.80% and a net margin of 18.99%. During the same period in the previous year, the business earned $0.43 earnings per share.
A number of brokerages recently weighed in on ZION. Piper Jaffray Companies decreased their price target on shares of Zions Bancorp from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 11th. JPMorgan Chase & Co. raised shares of Zions Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $34.00 to $50.00 in a research note on Thursday, January 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 price target on shares of Zions Bancorp in a research note on Wednesday, April 5th. Zacks Investment Research downgraded shares of Zions Bancorp from a “buy” rating to a “hold” rating in a report on Monday, February 20th. Finally, Keefe, Bruyette & Woods set a $44.00 price objective on shares of Zions Bancorp and gave the company a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the stock. Zions Bancorp presently has an average rating of “Hold” and an average target price of $41.59.
Zions Bancorp (NASDAQ:ZION) traded down 0.87% during trading on Tuesday, reaching $39.83. The company had a trading volume of 2,300,718 shares. The stock has a 50 day moving average price of $42.80 and a 200 day moving average price of $40.11. The firm has a market capitalization of $8.06 billion, a P/E ratio of 20.02 and a beta of 1.47. Zions Bancorp has a 52 week low of $23.02 and a 52 week high of $48.33.
In related news, Director Shelley Thomas Williams sold 26,127 shares of Zions Bancorp stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $42.05, for a total value of $1,098,640.35. Following the completion of the sale, the director now owns 25,127 shares in the company, valued at approximately $1,056,590.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James R. Abbott sold 6,953 shares of Zions Bancorp stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $45.08, for a total transaction of $313,441.24. Following the completion of the sale, the insider now owns 32,216 shares of the company’s stock, valued at approximately $1,452,297.28. The disclosure for this sale can be found here. Insiders sold a total of 72,487 shares of company stock valued at $3,147,081 in the last quarter. 2.06% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ZION. Northwest Quadrant Wealth Management LLC acquired a new stake in Zions Bancorp during the fourth quarter worth about $137,000. SRB Corp acquired a new stake in Zions Bancorp during the third quarter worth about $173,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Zions Bancorp by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,494 shares of the bank’s stock worth $194,000 after buying an additional 124 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Zions Bancorp by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,293 shares of the bank’s stock worth $195,000 after buying an additional 748 shares during the last quarter. Finally, Wetherby Asset Management Inc. acquired a new stake in Zions Bancorp during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.
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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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