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Zions Bancorporation Set to Report Q3 Earnings as Revenue Growth Slows

NeutralMedium impact
ZION$63.37 0.57%ZIONP$17.09 −0.23%

Regional lender Zions Bancorporation (NASDAQ:ZION) is scheduled to release its third-quarter financial results on Monday after trading closes. The market expects the company to post year-over-year revenue growth of 2.7%, representing a slowdown from the 9.3% expansion recorded in the same period last year. Analysts covering the firm have generally maintained their revenue expectations over the past month.

The upcoming report follows a second quarter in which Zions Bancorporation generated $878 million in revenue, up 4.9% annually, but fell short of expectations for overall sales and net interest income. Regional bank stocks have experienced modest pressure recently, dropping an average of 5.1% over the past month, while Zions Bancorporation shares decreased 2.9% over the same duration. By comparison, industry peers Independent Bank and Regions Financial both topped third-quarter revenue estimates by 0.6%.

Investors will be watching to see if Zions Bancorporation can meet revenue targets this quarter after missing Wall Street consensus estimates multiple times over the past two years. The stock closed most recently at $63.37, up 0.57% for the session, compared to an average analyst price target of $72.73.

Key points

  • Zions Bancorporation will report third-quarter earnings on Monday after market close.
  • Market consensus calls for 2.7% year-over-year revenue growth, down from 9.3% growth in Q3 last year.
  • The company reported $878 million in Q2 revenue, up 4.9% annually, but missed revenue and net interest income targets.
  • Zions Bancorporation stock is down 2.9% over the last month, while analysts hold an average price target of $72.73.

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Questions and answers

When does Zions Bancorporation report Q3 earnings?

Zions Bancorporation will report its third-quarter financial results on Monday after the stock market closes.

What are analysts expecting for Zions Bancorporation Q3 revenue?

Analysts expect third-quarter revenue to grow 2.7% year over year, slowing from 9.3% growth in the same period last year.

What is the average price target for Zions Bancorporation stock?

Analysts maintain an average price target of $72.73 for Zions Bancorporation, compared to a recent price of $63.37.