Analysts expect Zions Bancorporation (NASDAQ:ZION) to post earnings per share of $0.73 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Zions Bancorporation’s earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.70. Zions Bancorporation posted earnings of $0.57 per share during the same quarter last year, which would indicate a positive year over year growth rate of 28.1%. The firm is scheduled to announce its next earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Zions Bancorporation will report full-year earnings of $2.81 per share for the current financial year, with EPS estimates ranging from $2.75 to $2.87. For the next financial year, analysts expect that the business will report earnings of $3.12 per share, with EPS estimates ranging from $2.86 to $3.45. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Zions Bancorporation.
Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.11. The business had revenue of $660.00 million for the quarter, compared to analyst estimates of $640.34 million. Zions Bancorporation had a return on equity of 8.14% and a net margin of 21.97%. During the same period in the previous year, the company posted $0.44 EPS.
Several research analysts have weighed in on the company. Robert W. Baird lowered Zions Bancorporation from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $46.12 to $43.00 in a research report on Monday, August 7th. BMO Capital Markets reiterated a “hold” rating and set a $47.00 price target on shares of Zions Bancorporation in a research note on Thursday, July 27th. Wells Fargo & Company began coverage on Zions Bancorporation in a research note on Wednesday, August 9th. They set an “outperform” rating and a $56.00 price target for the company. Bank of America Corporation upgraded Zions Bancorporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $52.00 in a research note on Wednesday, August 16th. Finally, Zacks Investment Research upgraded Zions Bancorporation from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, July 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $46.00.
In related news, General Counsel Thomas E. Laursen sold 1,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $46.38, for a total value of $46,380.00. Following the sale, the general counsel now owns 23,484 shares in the company, valued at approximately $1,089,187.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David E. Blackford sold 9,533 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $44.94, for a total transaction of $428,413.02. Following the completion of the sale, the insider now owns 22,997 shares in the company, valued at approximately $1,033,485.18. The disclosure for this sale can be found here. Insiders have sold a total of 27,118 shares of company stock worth $1,222,407 in the last three months. Insiders own 1.46% of the company’s stock.
Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new stake in Zions Bancorporation in the 2nd quarter valued at about $108,000. Global X Management Co. LLC increased its stake in shares of Zions Bancorporation by 340.4% during the 1st quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock worth $127,000 after purchasing an additional 2,335 shares during the last quarter. Exane Derivatives purchased a new stake in shares of Zions Bancorporation during the 2nd quarter worth approximately $132,000. Segantii Capital Management Ltd purchased a new stake in shares of Zions Bancorporation during the 1st quarter worth approximately $151,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Zions Bancorporation during the 2nd quarter worth approximately $175,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.
Zions Bancorporation (NASDAQ:ZION) traded down 0.53% during trading on Monday, hitting $45.12. The stock had a trading volume of 1,173,008 shares. The company has a market cap of $9.12 billion, a P/E ratio of 17.96 and a beta of 1.45. The company has a 50 day moving average of $44.09 and a 200-day moving average of $42.70. Zions Bancorporation has a 12-month low of $29.63 and a 12-month high of $48.33.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.08. Zions Bancorporation’s dividend payout ratio is 19.12%.
Zions Bancorporation declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $465.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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.
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