$670.42 Million in Sales Expected for Zions Bancorp (ZION) This Quarter

Brokerages expect Zions Bancorp (NASDAQ:ZION) to report sales of $670.42 million for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Zions Bancorp’s earnings. The highest sales estimate is $676.99 million and the lowest is $661.00 million. Zions Bancorp posted sales of $608.71 million during the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The company is scheduled to report its next quarterly earnings results 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 fiscal year, analysts anticipate that the firm will post sales of $2.76 billion per share, with estimates ranging from $2.70 billion to $2.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Zions Bancorp.

Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. The business had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same quarter in the previous year, the company earned $0.57 earnings per share.

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein restated a “market perform” rating and issued a $51.00 price target on shares of Zions Bancorp in a report on Saturday, September 16th. Jefferies Group restated a “buy” rating and issued a $49.00 price target on shares of Zions Bancorp in a report 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 target on the stock. in a report on Monday, October 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 price target on shares of Zions Bancorp in a report on Tuesday, October 3rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $49.00 price target (up from $48.00) on shares of Zions Bancorp in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $51.78.

In related news, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $46.55, for a total value of $74,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. Insiders sold a total of 43,979 shares of company stock valued at $2,057,927 over the last ninety days. 1.46% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in ZION. Advisors Asset Management Inc. purchased a new position in Zions Bancorp during the 2nd quarter worth approximately $108,000. Americafirst Capital Management LLC purchased a new position in Zions Bancorp during the 2nd quarter worth approximately $175,000. Conning Inc. purchased a new position in Zions Bancorp during the 3rd quarter worth approximately $210,000. Janney Montgomery Scott LLC purchased a new position in Zions Bancorp during the 3rd quarter worth approximately $212,000. Finally, Magnetar Financial LLC purchased a new position in Zions Bancorp during the 3rd quarter worth approximately $215,000. 92.54% of the stock is owned by hedge funds and other institutional investors.

Shares of Zions Bancorp (NASDAQ ZION) traded down $0.25 during trading on Tuesday, reaching $50.62. 1,697,600 shares of the company’s stock traded hands, compared to its average volume of 2,036,300. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a one year low of $38.43 and a one year high of $52.20. The company has a market cap of $10,300.00, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48.

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Zions Bancorp Company Profile

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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Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

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