Zions Bancorp (NASDAQ:ZION) reported upbeat earnings for the second quarter on Monday.
The company posted quarterly earnings of $3.05 per share which beat the analyst consensus estimate of $1.71 per share. The company reported quarterly sales of $1.137 billion which beat the analyst consensus estimate of $901.498 million.
Harris H. Simmons, Chairman and CEO of Zions Bancorporation, said, “We’re very pleased with the quarterly results, as earnings per share, excluding net equity investment gains, increased 10% to $1.74, compared to $1.58 in the same period a year ago. Net equity investment gains of $215 million on Visa Class B-1 shares and $37 million on SBIC investments added $1.12 and $0.19 per share, respectively, compared to net equity investment gains of $9 million, or $0.05 per share a year ago.”
Zions Bancorp shares fell 3.9% to trade at $69.10 on Tuesday.
These analysts made changes to their price targets on Zions Bancorp following earnings announcement.
- Baird analyst David George maintained the stock with a Neutral and raised the price target from $68 to $75.
- TD Cowen analyst Janet Lee maintained the stock with a Hold and raised the price target from $71 to $73.
Considering buying ZION stock? Here’s what analysts think:
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