$0.74 EPS Expected for Zions Bancorporation (ZION) This Quarter
Equities research analysts expect Zions Bancorporation (NASDAQ:ZION) to announce earnings of $0.74 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Zions Bancorporation’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.78. Zions Bancorporation posted earnings per share of $0.60 during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.3%. The company is scheduled to announce its next earnings report on Monday, January 22nd.
On average, analysts expect that Zions Bancorporation will report full-year earnings of $2.80 per share for the current financial year, with EPS estimates ranging from $2.76 to $2.91. For the next financial year, analysts anticipate that the firm will report earnings of $3.13 per share, with EPS estimates ranging from $2.89 to $3.42. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Zions Bancorporation.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. The company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same period in the prior year, the firm posted $0.57 earnings per share.
In related news, insider Joseph L. Reilly sold 23,271 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $46.55, for a total transaction of $74,480.00. The disclosure for this sale can be found here. Insiders sold 43,979 shares of company stock worth $2,057,927 in the last 90 days. Corporate insiders own 1.46% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ZION. Advisors Asset Management Inc. purchased a new position in shares of Zions Bancorporation during the second quarter valued at about $108,000. Americafirst Capital Management LLC purchased a new position in shares of Zions Bancorporation during the second quarter valued at about $175,000. Global X Management Co. LLC increased its position in shares of Zions Bancorporation by 58.6% during the second quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock valued at $210,000 after buying an additional 1,771 shares during the period. Conning Inc. purchased a new position in shares of Zions Bancorporation during the third quarter valued at about $210,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Zions Bancorporation during the third quarter valued at about $212,000. Institutional investors own 92.69% of the company’s stock.
Zions Bancorporation (NASDAQ:ZION) traded up $0.53 during midday trading on Friday, hitting $50.08. 4,040,000 shares of the stock were exchanged, compared to its average volume of 2,211,448. Zions Bancorporation has a 52 week low of $38.43 and a 52 week high of $50.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $10,003.18, a P/E ratio of 18.83, a P/E/G ratio of 1.93 and a beta of 1.48.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th were given a $0.16 dividend. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. Zions Bancorporation’s payout ratio is presently 24.06%.
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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