Analysts Expect Zions Bancorp (ZION) Will Announce Quarterly Sales of $670.42 Million
Brokerages expect Zions Bancorp (NASDAQ:ZION) to report $670.42 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Zions Bancorp’s earnings, with estimates ranging from $661.00 million to $676.99 million. Zions Bancorp posted sales of $608.71 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 22nd.
On average, analysts expect that Zions Bancorp will report full-year sales of $670.42 million for the current fiscal year, with estimates ranging from $2.60 billion to $2.64 billion. For the next year, analysts expect that the firm will post sales of $2.76 billion per share, with estimates ranging from $2.70 billion to $2.84 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. During the same period in the previous year, the firm posted $0.57 EPS.
A number of analysts have weighed in on ZION shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $51.00 target price on shares of Zions Bancorp in a research note on Saturday, September 16th. Jefferies Group reissued a “buy” rating and issued a $49.00 price objective on shares of Zions Bancorp in a research note on Friday, September 15th. Robert W. Baird cut shares of Zions Bancorp from a “neutral” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $49.00 price objective (up previously from $48.00) on shares of Zions Bancorp in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Zions Bancorp presently has a consensus rating of “Buy” and an average price target of $51.78.
In other news, insider Bruce K. Alexander sold 6,089 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total transaction of $292,089.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold 43,979 shares of company stock worth $2,057,927 in the last ninety days. Insiders own 1.46% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of Zions Bancorp during the second quarter valued at about $108,000. Americafirst Capital Management LLC acquired a new stake in shares of Zions Bancorp in the 2nd quarter worth about $175,000. Conning Inc. acquired a new stake in shares of Zions Bancorp in the 3rd quarter worth about $210,000. Janney Montgomery Scott LLC acquired a new stake in shares of Zions Bancorp in the 3rd quarter worth about $212,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Zions Bancorp in the 3rd quarter worth about $215,000. Hedge funds and other institutional investors own 92.54% of the company’s stock.
Zions Bancorp (NASDAQ:ZION) traded down $0.25 during midday trading on Tuesday, hitting $50.62. 1,697,600 shares of the company’s stock were exchanged, compared to its average volume of 2,036,300. The company has a market capitalization of $10,300.00, a PE ratio of 18.96, a PEG ratio of 1.72 and a beta of 1.48. Zions Bancorp has a 12-month low of $38.43 and a 12-month high of $52.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.
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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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