Equities research analysts forecast that Zions Bancorp (NASDAQ:ZION) will report $0.54 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Zions Bancorp’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.50. Zions Bancorp posted earnings of $0.38 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 42.1%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, April 24th.
On average, analysts expect that Zions Bancorp will report full-year earnings of $2.46 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.60. For the next year, analysts forecast that the firm will report earnings of $2.88 per share, with EPS estimates ranging from $2.62 to $3.10. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Zions Bancorp.
Zions Bancorp (NASDAQ:ZION) last released its earnings results on Monday, January 23rd. The bank reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.08. The company earned $608.71 million during the quarter, compared to analysts’ expectations of $612.66 million. Zions Bancorp had a return on equity of 6.80% and a net margin of 18.99%. During the same quarter last year, the business posted $0.43 EPS.
ZION has been the subject of several analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $46.00 price objective on shares of Zions Bancorp in a report on Wednesday, March 22nd. Goldman Sachs Group Inc increased their price objective on Zions Bancorp to $50.00 and gave the company a “buy” rating in a report on Tuesday, January 24th. JMP Securities initiated coverage on Zions Bancorp in a report on Thursday, February 2nd. They set a “market perform” rating for the company. Compass Point upgraded Zions Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, March 29th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price objective on shares of Zions Bancorp in a report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Hold” and an average price target of $41.59.
In other news, insider Michael Morris sold 15,429 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $44.71, for a total transaction of $689,830.59. Following the sale, the insider now directly owns 26,429 shares in the company, valued at approximately $1,181,640.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James R. Abbott sold 6,953 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $45.08, for a total value of $313,441.24. Following the sale, the insider now owns 32,216 shares in the company, valued at $1,452,297.28. The disclosure for this sale can be found here. Insiders have sold a total of 72,487 shares of company stock worth $3,147,081 over the last 90 days. Insiders own 2.06% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BRC Investment Management LLC acquired a new stake in Zions Bancorp during the third quarter worth approximately $3,256,000. Rothschild Asset Management Inc. boosted its stake in Zions Bancorp by 10.4% in the third quarter. Rothschild Asset Management Inc. now owns 502,185 shares of the bank’s stock worth $15,578,000 after buying an additional 47,165 shares during the period. Loeb Partners Corp acquired a new stake in Zions Bancorp during the third quarter worth approximately $1,822,000. V Wealth Management LLC purchased a new stake in Zions Bancorp during the third quarter valued at about $1,308,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new stake in Zions Bancorp during the third quarter valued at about $1,728,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.
Zions Bancorp (NASDAQ:ZION) traded down 0.56% on Tuesday, hitting $40.85. The stock had a trading volume of 2,229,658 shares. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 20.53 and a beta of 1.47. Zions Bancorp has a 1-year low of $23.02 and a 1-year high of $48.33. The stock’s 50-day moving average is $42.36 and its 200 day moving average is $40.18.
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About Zions Bancorp
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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