Wall Street brokerages expect Zions Bancorporation NA (NASDAQ:ZION) to announce $723.21 million in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Zions Bancorporation NA’s earnings, with the lowest sales estimate coming in at $715.00 million and the highest estimate coming in at $729.00 million. Zions Bancorporation NA reported sales of $686.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is expected to issue its next earnings report after the market closes on Monday, July 22nd.
On average, analysts expect that Zions Bancorporation NA will report full-year sales of $2.89 billion for the current financial year, with estimates ranging from $2.86 billion to $2.92 billion. For the next financial year, analysts forecast that the company will post sales of $2.95 billion, with estimates ranging from $2.76 billion to $3.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Zions Bancorporation NA.
Zions Bancorporation NA (NASDAQ:ZION) last issued its earnings results on Monday, April 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.01). The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $715.64 million. Zions Bancorporation NA had a net margin of 27.58% and a return on equity of 12.24%. During the same period last year, the business posted $1.09 EPS.
Several brokerages have recently issued reports on ZION. JPMorgan Chase & Co. reduced their target price on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Zacks Investment Research lowered shares of Green Plains from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th. Finally, BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Zions Bancorporation NA currently has an average rating of “Hold” and an average price target of $54.15.
In related news, EVP Keith D. Maio sold 11,000 shares of Zions Bancorporation NA stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $48.67, for a total transaction of $535,370.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider A Scott Anderson sold 10,000 shares of Zions Bancorporation NA stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,100 shares of company stock worth $1,424,658 in the last three months. 1.70% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its stake in Zions Bancorporation NA by 86.9% in the first quarter. LSV Asset Management now owns 5,153,339 shares of the bank’s stock valued at $234,013,000 after buying an additional 2,395,500 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Zions Bancorporation NA by 13.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,726,342 shares of the bank’s stock valued at $192,552,000 after buying an additional 565,470 shares in the last quarter. Millennium Management LLC lifted its stake in Zions Bancorporation NA by 154.7% in the fourth quarter. Millennium Management LLC now owns 3,913,496 shares of the bank’s stock valued at $159,436,000 after buying an additional 2,376,929 shares in the last quarter. American Century Companies Inc. lifted its stake in Zions Bancorporation NA by 3.7% in the fourth quarter. American Century Companies Inc. now owns 3,742,385 shares of the bank’s stock valued at $152,465,000 after buying an additional 133,547 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation NA by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,828,645 shares of the bank’s stock valued at $115,238,000 after buying an additional 41,191 shares in the last quarter. 95.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ ZION traded up $0.56 during mid-day trading on Friday, hitting $46.10. The company’s stock had a trading volume of 3,144,473 shares, compared to its average volume of 1,561,879. The stock has a market capitalization of $8.42 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.23 and a beta of 1.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $54.76. The company has a fifty day simple moving average of $44.90.
About Zions Bancorporation NA
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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