Zions Bancorporation (NASDAQ:ZION) is set to announce its earnings results after the market closes on Tuesday, July 25th. Analysts expect the company to announce earnings of $0.62 per share for the quarter.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, April 24th. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $621 million during the quarter, compared to the consensus estimate of $619.90 million. Zions Bancorporation had a return on equity of 7.44% and a net margin of 20.50%. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, analysts expect Zions Bancorporation to post $2.60 EPS for the current fiscal year and $3.03 EPS for the next fiscal year.
Shares of Zions Bancorporation (ZION) opened at 44.34 on Tuesday. Zions Bancorporation has a 52-week low of $25.62 and a 52-week high of $48.33. The stock’s 50 day moving average price is $41.41 and its 200-day moving average price is $42.36. The company has a market cap of $8.98 billion, a P/E ratio of 19.96 and a beta of 1.44.
Zions Bancorporation announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $465.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
ZION has been the topic of several recent research reports. BMO Capital Markets reissued a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation in a report on Wednesday, March 22nd. Compass Point raised Zions Bancorporation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 29th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “buy” rating and set a $49.00 price objective on shares of Zions Bancorporation in a report on Wednesday, April 5th. Piper Jaffray Companies cut their price objective on Zions Bancorporation from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods set a $44.00 price objective on Zions Bancorporation and gave the company a “hold” rating in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.23.
In other news, General Counsel Thomas E. Laursen sold 860 shares of Zions Bancorporation stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $41.16, for a total value of $35,397.60. Following the completion of the transaction, the general counsel now directly owns 25,901 shares of the company’s stock, valued at approximately $1,066,085.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Leeanne B. Linderman sold 29,078 shares of Zions Bancorporation stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $41.00, for a total value of $1,192,198.00. Following the completion of the transaction, the insider now directly owns 15,746 shares of the company’s stock, valued at $645,586. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,184 shares of company stock valued at $1,880,815. Corporate insiders own 1.46% of the company’s stock.
Zions Bancorporation 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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