Regional banking company Zions Bancorporation (NASDAQ: ZION) will be reporting results this Monday after market hours. Here’s what to expect.
Zions Bancorporation met analysts’ revenue expectations last quarter, reporting revenues of $795 million, up 7.1% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS estimates and net interest income in line with analysts’ estimates.
Is Zions Bancorporation a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Zions Bancorporation’s revenue to grow 3.9% year on year to $806.6 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.31 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 4 downward revisions over the last 30 days (we track 12 analysts). Zions Bancorporation has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Zions Bancorporation’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Texas Capital Bank delivered year-on-year revenue growth of 15.2%, beating analysts’ expectations by 2.7%, and Nicolet Bankshares reported revenues up 12.7%, topping estimates by 4.4%. Texas Capital Bank traded up 4.8% following the results while Nicolet Bankshares was also up 7.8%.
Read our full analysis of Texas Capital Bank’s results here and Nicolet Bankshares’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 10.3% on average over the last month. Zions Bancorporation is up 17.3% during the same time and is heading into earnings with an average analyst price target of $55.58 (compared to the current share price of $56.98).
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