Zions Bancorp Q2 adjusted EPS misses estimates as one-time gains lift net profit
ZION•Loans, deposits and outlook
Loans grew 3% year over year and 8% annualized linked-quarter. Deposits increased 4% year over year but were seasonally lower versus the first quarter.
The company did not provide specific guidance for the current quarter or full year.
Q2 results and earnings miss
Zions Bancorp said second-quarter adjusted earnings per share missed analyst estimates, even as net profit rose sharply.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Adjusted EPS | Miss | $1.74 | $1.81 (19 Analysts) |
| Q2 EPS | $3.05 | ||
| Q2 CET1 Capital Ratio | 11.80% |
Analyst coverage and valuation
The current average analyst rating on the shares is hold, with 8 strong buy or buy, 14 hold, and 1 sell or strong sell recommendation.
The average consensus recommendation for the banks peer group is buy. Wall Street's median 12-month price target for Zions Bancorporation NA is , about its July 17 closing price of . The stock recently traded at next 12-month earnings, versus a P/E of three months ago.
