Equities research analysts forecast that Zions Bancorporation NA (NASDAQ:ZION) will announce sales of $714.43 million for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Zions Bancorporation NA’s earnings, with the highest sales estimate coming in at $737.30 million and the lowest estimate coming in at $705.70 million. Zions Bancorporation NA posted sales of $701.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The company is expected to announce its next earnings report on Monday, October 28th.
On average, analysts expect that Zions Bancorporation NA will report full-year sales of $2.85 billion for the current fiscal year, with estimates ranging from $2.82 billion to $2.91 billion. For the next year, analysts expect that the business will report sales of $2.88 billion, with estimates ranging from $2.81 billion to $3.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Zions Bancorporation NA.
Zions Bancorporation NA (NASDAQ:ZION) last announced its earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. The company had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $723.21 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share.
Several brokerages recently weighed in on ZION. BidaskClub raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research downgraded shares of Zions Bancorporation NA from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a report on Thursday, June 27th. SunTrust Banks dropped their target price on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Barclays dropped their target price on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods downgraded shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $53.00 to $47.00 in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Zions Bancorporation NA currently has an average rating of “Hold” and an average price target of $52.56.
In other news, insider A Scott Anderson sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $44.92, for a total transaction of $449,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James R. Abbott sold 1,988 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $45.83, for a total transaction of $91,110.04. The disclosure for this sale can be found here. Insiders have sold a total of 26,615 shares of company stock worth $1,197,961 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ZION. First Interstate Bank purchased a new stake in Zions Bancorporation NA in the 1st quarter worth about $27,000. Buffington Mohr McNeal purchased a new stake in Zions Bancorporation NA in the 1st quarter worth about $30,000. Steward Partners Investment Advisory LLC purchased a new stake in Zions Bancorporation NA in the 2nd quarter worth about $35,000. Amica Retiree Medical Trust purchased a new stake in Zions Bancorporation NA in the 2nd quarter worth about $39,000. Finally, Valeo Financial Advisors LLC raised its position in Zions Bancorporation NA by 48.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock worth $41,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 94.87% of the company’s stock.
Zions Bancorporation NA stock traded down $0.82 during mid-day trading on Monday, hitting $41.03. The stock had a trading volume of 2,048,698 shares, compared to its average volume of 2,359,859. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 1.24 and a beta of 1.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50 day moving average of $44.52. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $54.76.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.31%. This is a boost from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 14th. Zions Bancorporation NA’s dividend payout ratio is currently 29.41%.
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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