Brokerages Anticipate Zions Bancorporation NA (ZION) Will Announce Quarterly Sales of $724.08 Million
Equities research analysts predict that Zions Bancorporation NA (NASDAQ:ZION) will report $724.08 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Zions Bancorporation NA’s earnings, with the highest sales estimate coming in at $731.00 million and the lowest estimate coming in at $720.90 million. Zions Bancorporation NA reported sales of $686.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The business is expected to issue its next earnings results on Monday, July 22nd.
According to Zacks, analysts expect that Zions Bancorporation NA will report full year sales of $2.91 billion for the current year, with estimates ranging from $2.87 billion to $2.94 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.99 billion, with estimates ranging from $2.93 billion to $3.02 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Zions Bancorporation NA.
Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.01). Zions Bancorporation NA had a net margin of 27.58% and a return on equity of 12.24%. The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $715.64 million. During the same period in the previous year, the business posted $1.09 EPS.
Shares of NASDAQ ZION traded up $0.25 during midday trading on Wednesday, hitting $43.32. The company’s stock had a trading volume of 1,912,705 shares, compared to its average volume of 2,393,724. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation NA has a 1 year low of $38.08 and a 1 year high of $57.60. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.08 and a beta of 1.53.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.77%. Zions Bancorporation NA’s payout ratio is currently 29.41%.
In other Zions Bancorporation NA news, EVP Keith D. Maio sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $48.67, for a total transaction of $535,370.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,100 shares of company stock worth $1,424,658. 1.70% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management increased its holdings in shares of Zions Bancorporation NA by 86.9% in the 1st quarter. LSV Asset Management now owns 5,153,339 shares of the bank’s stock valued at $234,013,000 after acquiring an additional 2,395,500 shares during the period. Millennium Management LLC increased its holdings in shares of Zions Bancorporation NA by 154.7% in the 4th quarter. Millennium Management LLC now owns 3,913,496 shares of the bank’s stock valued at $159,436,000 after acquiring an additional 2,376,929 shares during the period. Norges Bank acquired a new position in shares of Zions Bancorporation NA in the 4th quarter valued at $71,781,000. Voya Investment Management LLC increased its holdings in shares of Zions Bancorporation NA by 859.2% in the 1st quarter. Voya Investment Management LLC now owns 1,370,118 shares of the bank’s stock valued at $62,217,000 after acquiring an additional 1,227,272 shares during the period. Finally, Clark Capital Management Group Inc. increased its holdings in shares of Zions Bancorporation NA by 3,378.7% in the 1st quarter. Clark Capital Management Group Inc. now owns 589,599 shares of the bank’s stock valued at $26,774,000 after acquiring an additional 572,650 shares during the period. 95.16% of the stock is currently owned by institutional investors.
Zions Bancorporation NA Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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