Zions Bancorp (ZION) Expected to Post Earnings of $0.96 Per Share

Brokerages expect that Zions Bancorp (NASDAQ:ZION) will report earnings per share (EPS) of $0.96 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Zions Bancorp’s earnings, with estimates ranging from $0.91 to $0.99. Zions Bancorp posted earnings per share of $0.72 during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The company is expected to report its next quarterly earnings results on Monday, October 22nd.

On average, analysts expect that Zions Bancorp will report full year earnings of $3.94 per share for the current fiscal year, with EPS estimates ranging from $3.77 to $4.13. For the next fiscal year, analysts forecast that the firm will report earnings of $4.16 per share, with EPS estimates ranging from $4.05 to $4.52. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Zions Bancorp.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 23rd. The bank reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The business had revenue of $686.00 million during the quarter, compared to analyst estimates of $687.26 million. Zions Bancorp had a net margin of 25.03% and a return on equity of 10.86%. During the same period in the prior year, the firm earned $0.73 earnings per share.

A number of brokerages recently commented on ZION. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, July 16th. Raymond James raised Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. BidaskClub raised Zions Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 target price on shares of Zions Bancorp in a research report on Thursday, July 12th. Finally, Barclays boosted their target price on Zions Bancorp from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Zions Bancorp presently has a consensus rating of “Buy” and a consensus price target of $58.75.

Shares of Zions Bancorp stock opened at $52.57 on Friday. Zions Bancorp has a one year low of $43.50 and a one year high of $59.19. The stock has a market capitalization of $10.22 billion, a P/E ratio of 18.38, a PEG ratio of 1.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81.

In other news, insider Alexander Hume sold 4,046 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $54.51, for a total value of $220,547.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Thomas E. Laursen sold 945 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.73, for a total value of $49,829.85. The disclosure for this sale can be found here. Insiders have sold a total of 18,896 shares of company stock valued at $1,016,029 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Three Peaks Capital Management LLC bought a new position in shares of Zions Bancorp in the first quarter valued at approximately $112,000. Piedmont Investment Advisors LLC bought a new position in shares of Zions Bancorp in the second quarter valued at approximately $122,000. NumerixS Investment Technologies Inc bought a new position in shares of Zions Bancorp in the second quarter valued at approximately $158,000. Tower Research Capital LLC TRC grew its holdings in shares of Zions Bancorp by 1,637.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock valued at $183,000 after acquiring an additional 3,275 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Zions Bancorp by 100.0% in the second quarter. Crewe Advisors LLC now owns 4,000 shares of the bank’s stock valued at $210,000 after acquiring an additional 2,000 shares in the last quarter. 94.78% of the stock is owned by institutional investors.

Zions Bancorp Company Profile

Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.

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