Zions Bancorporation Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Zions Bancorporation (NASDAQ:ZION) will unveil its latest earnings on Monday, July 18, 2011. Zions Bancorporation provides a full range of banking and related services through its banking and other subsidiaries.

Zions Bancorporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for a loss of one cent per share, a narrower loss from the year earlier quarter net loss of 84 cents. During the past three months, the average estimate has moved up from a loss of 10 cents. Between one and three months ago, the average estimate moved up, and has risen from a loss of 4 cents during the last month. For the year, analysts are projecting profit of 49 cents per share, a swing from net loss of $2.64 last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 8 cents per share against a mean estimate of a loss of 17 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 25 cents.

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Wall St. Revenue Expectations: On average, analysts predict $540.1 million in revenue this quarter, a rise of 3.3% from the year ago quarter. Analysts are forecasting total revenue of $2.26 billion for the year, a rise of 4.1% from last year’s revenue of $2.17 billion.

Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, one rating it as a sell and nine rating it as a hold.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 4.1% to $689.6 million in first quarter. The figure fell 21.2% in the fourth quarter of the last fiscal year from the year earlier, dropped 2.3% in third quarter of the last fiscal year from the year-ago quarter and 41.8% in the second quarter of the last fiscal year.

Zions’ profit in the latest quarter follows losses in the three previous quarters. The company reported a profit of $52.8 million in the first quarter, a loss of $72.2 million in the fourth quarter of the last fiscal year, a loss of $47.3 million in the third of the last fiscal year and a loss of $113 million in the second quarter of the last fiscal year.

Competitors to Watch: Glacier Bancorp, Inc. (NASDAQ:GBCI), CoBiz Financial Inc (NASDAQ:COBZ), First State Bancorp., NM (FSNM), TCF Financial Corporation (NYSE:TCB), Western Alliance Bancorporation (NYSE:WAL), Citigroup Inc. (NYSE:C), Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB), JPMorgan Chase (NYSE:JPM), HSBC (NYSE:HBC), The Bank of New York Mellon Corporation (NYSE:BK), Northern Trust Corporation (NASDAQ:NTRS), PNC (NYSE:PNC), Zions Bancorp (NASDAQ:ZION), Financials (NYSE:XLF) and Wells Fargo & Company (NYSE:WFC).

Stock Price Performance: During June 13, 2011 to July 12, 2011, the stock price had risen $1.53 (6.9%) from $22.24 to $23.77. The stock price saw one of its best stretches over the last year between August 17, 2010, and August 26, 2010, when shares rose for eight-straight days, rising 11.9% (+$2.16) over that span. Shares have been on a negative streak of late, closing down every day between July 11, 2011 and July 12, 2011. Shares are down 44 cents (-1.8%) year to date.

(Source: Xignite Financials)

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