$666.12 Million in Sales Expected for Zions Bancorp (ZION) This Quarter

Analysts forecast that Zions Bancorp (NASDAQ:ZION) will post $666.12 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Zions Bancorp’s earnings. The lowest sales estimate is $653.00 million and the highest is $685.22 million. Zions Bancorp reported sales of $621.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, April 23rd.

On average, analysts expect that Zions Bancorp will report full year sales of $2.77 billion for the current financial year, with estimates ranging from $2.71 billion to $2.87 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.92 billion per share, with estimates ranging from $2.83 billion to $3.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Zions Bancorp.

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Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $665.00 million during the quarter, compared to analyst estimates of $670.55 million. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. During the same period in the prior year, the business posted $0.60 EPS.

Several research firms have recently commented on ZION. B. Riley restated a “buy” rating and issued a $64.00 price objective (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday, February 27th. Wells Fargo reaffirmed an “outperform” rating and issued a $65.00 target price (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. Barclays upped their target price on shares of Zions Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada upped their target price on shares of Zions Bancorp to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Finally, BidaskClub raised shares of Zions Bancorp from a “hold” rating to a “buy” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.67.

In other Zions Bancorp news, insider Alexander Hume sold 7,196 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $53.87, for a total transaction of $387,648.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott J. Mclean sold 31,309 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $56.15, for a total transaction of $1,758,000.35. The disclosure for this sale can be found here. Insiders have sold a total of 57,224 shares of company stock valued at $3,156,817 in the last three months. Insiders own 1.46% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in shares of Zions Bancorp during the 4th quarter valued at about $102,000. Delpha Capital Management LLC bought a new position in shares of Zions Bancorp during the 4th quarter valued at about $107,000. G&S Capital LLC bought a new position in shares of Zions Bancorp during the 4th quarter valued at about $115,000. Tower Research Capital LLC TRC boosted its holdings in shares of Zions Bancorp by 1,274.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,562 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Zions Bancorp by 2,081.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after acquiring an additional 2,872 shares during the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

NASDAQ:ZION opened at $53.80 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $10,234.46, a PE ratio of 18.81, a P/E/G ratio of 1.53 and a beta of 1.38. Zions Bancorp has a one year low of $38.43 and a one year high of $57.29.

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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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