Zions Bancorporation Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Zions Bancorporation (NASDAQ:ZION) will unveil its latest earnings on Monday, October 24, 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 net income of 32 cents per share, a swing from a loss of 47 cents in the year earlier quarter. During the past three months, the average estimate has moved up from 27 cents. Between one and three months ago, the average estimate moved up. It has risen from 30 cents during the last month. Analysts are projecting profit of 87 cents per share versus net loss of $2.64 last year.

Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with net income of 16 cents per share against the mean estimate of one cent. In the prior quarter, the company reported profit of 8 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 4.8% in revenue from the year-earlier quarter to $588.8 million.

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

A Look Back: In the second quarter, the company swung to a profit of $72.9 million (16 cents a share) from a loss of $113 million (84 cents) a year earlier, beating analyst estimates. Revenue fell 2.7% to $692.2 million from $711.2 million.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 4.1% in the first quarter from the year earlier, dropped 21.2% in fourth quarter of the last fiscal year from the year-ago quarter and 2.3% in the third 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 July 25, 2011 to October 18, 2011, the stock price had fallen $6.38 (-27.3%) from $23.38 to $17. The stock price saw one of its best stretches over the last year between December 17, 2010 and December 28, 2010 when shares rose for seven-straight days, rising 9.8% (+$2.18) over that span. It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight-straight days, falling 11.1% (-$2.59) over that span. Shares are down $7.19 (-29.7%) year to date.

(Source: Xignite Financials)

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