Zions Bancorporation (NASDAQ:ZION) to Release Quarterly Earnings on Tuesday
Zions Bancorporation (NASDAQ:ZION) will post its quarterly earnings results after the market closes on Tuesday, July 25th. Analysts expect Zions Bancorporation to post earnings of $0.62 per share for the quarter.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 24th. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.54 by $0.07. Zions Bancorporation had a return on equity of 7.44% and a net margin of 20.50%. The business had revenue of $621 million for the quarter, compared to the consensus estimate of $619.90 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts expect Zions Bancorporation to post $2.60 EPS for the current fiscal year and $3.03 EPS for the next fiscal year.
Zions Bancorporation (ZION) opened at 44.34 on Tuesday. The company has a 50-day moving average price of $41.41 and a 200 day moving average price of $42.36. Zions Bancorporation has a 1-year low of $25.62 and a 1-year high of $48.33. The stock has a market cap of $8.98 billion, a P/E ratio of 19.96 and a beta of 1.44.
Zions Bancorporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $465.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other Zions Bancorporation news, insider David E. Blackford sold 2,090 shares of Zions Bancorporation stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $39.61, for a total value of $82,784.90. Following the sale, the insider now directly owns 23,578 shares in the company, valued at approximately $933,924.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David E. Blackford sold 942 shares of Zions Bancorporation stock in a transaction on Monday, May 15th. The shares were sold at an average price of $40.44, for a total transaction of $38,094.48. Following the completion of the sale, the insider now owns 29,415 shares in the company, valued at $1,189,542.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,184 shares of company stock worth $1,880,815. 1.46% of the stock is currently owned by insiders.
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Several brokerages recently issued reports on ZION. Barclays PLC raised their target price on shares of Zions Bancorporation from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and issued a $49.00 target price on shares of Zions Bancorporation in a report on Friday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $46.00 target price on shares of Zions Bancorporation in a report on Friday. BidaskClub upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price (up previously from $43.00) on shares of Zions Bancorporation in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. Zions Bancorporation has an average rating of “Hold” and an average price target of $43.23.
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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