Zions Bancorporation (ZION) Set to Announce Earnings on Monday
Zions Bancorporation (NASDAQ:ZION) will be releasing its earnings data after the market closes on Monday, October 23rd. Analysts expect Zions Bancorporation to post earnings of $0.68 per share for the quarter.
Zions Bancorporation (NASDAQ:ZION) last issued its earnings results on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The company had revenue of $660.00 million for the quarter, compared to the consensus estimate of $640.34 million. During the same quarter in the previous year, the company earned $0.44 EPS. On average, analysts expect Zions Bancorporation to post $2.81 EPS for the current fiscal year and $3.18 EPS for the next fiscal year.
Shares of Zions Bancorporation (ZION) opened at 46.60 on Monday. Zions Bancorporation has a 52 week low of $30.47 and a 52 week high of $48.33. The firm has a market cap of $9.42 billion, a P/E ratio of 18.55 and a beta of 1.44. The stock has a 50 day moving average of $45.04 and a 200 day moving average of $43.15.
Zions Bancorporation declared that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to buyback $465.00 million in shares. This buyback authorization allows the bank to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Zions Bancorporation news, insider David E. Blackford sold 9,533 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $44.94, for a total transaction of $428,413.02. Following the sale, the insider now directly owns 22,997 shares in the company, valued at approximately $1,033,485.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roger B. Porter bought 1,616 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average price of $43.99 per share, for a total transaction of $71,087.84. Following the completion of the purchase, the director now owns 42,001 shares in the company, valued at approximately $1,847,623.99. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 27,118 shares of company stock worth $1,222,407. Company insiders own 1.46% of the company’s stock.
Several research analysts have recently issued reports on the company. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 target price on shares of Zions Bancorporation in a research report on Thursday. Zacks Investment Research lowered Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Morgan Stanley reissued an “equal weight” rating and issued a $49.00 target price (up previously from $48.00) on shares of Zions Bancorporation in a research report on Wednesday, October 4th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Zions Bancorporation in a research report on Tuesday, October 3rd. Finally, Robert W. Baird lowered Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 target price for the company. in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.95.
TRADEMARK VIOLATION WARNING: This story was reported by Watch List News and is owned by of Watch List News. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this story can be accessed at https://www.watchlistnews.com/zions-bancorporation-zion-set-to-announce-earnings-on-monday/1633509.html.
About Zions Bancorporation
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.
Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with Analyst Ratings Network's FREE daily email newsletter.