Zions Bancorp (NASDAQ:ZION) – Equities research analysts at Jefferies Financial Group increased their FY2018 EPS estimates for Zions Bancorp in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now expects that the bank will earn $4.14 per share for the year, up from their prior estimate of $4.09. Jefferies Financial Group also issued estimates for Zions Bancorp’s Q4 2018 earnings at $1.11 EPS, Q1 2019 earnings at $1.07 EPS, Q2 2019 earnings at $1.17 EPS, Q3 2019 earnings at $1.19 EPS, Q4 2019 earnings at $1.22 EPS and FY2020 earnings at $4.85 EPS.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.08. The company had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $699.87 million. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. During the same quarter in the previous year, the business posted $0.72 EPS.
Several other equities analysts have also recently issued reports on ZION. Raymond James upped their target price on shares of Zions Bancorp from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, October 24th. Deutsche Bank lowered their target price on shares of Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. SunTrust Banks upped their target price on shares of Zions Bancorp to $52.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Finally, Argus began coverage on shares of Zions Bancorp in a research note on Monday, December 17th. They set a “buy” rating and a $51.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $57.76.
Shares of Zions Bancorp stock opened at $43.99 on Friday. The stock has a market capitalization of $8.37 billion, a P/E ratio of 15.38, a PEG ratio of 1.19 and a beta of 1.43. Zions Bancorp has a 1 year low of $38.08 and a 1 year high of $59.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13.
In related news, General Counsel Thomas E. Laursen sold 1,381 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $48.33, for a total value of $66,743.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leeanne B. Linderman sold 5,000 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $48.10, for a total transaction of $240,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,259 shares of company stock valued at $1,170,272 in the last ninety days. Insiders own 1.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. increased its holdings in Zions Bancorp by 26.3% in the 3rd quarter. D.A. Davidson & CO. now owns 5,198 shares of the bank’s stock worth $261,000 after acquiring an additional 1,083 shares in the last quarter. Alps Advisors Inc. increased its holdings in Zions Bancorp by 13.5% in the 3rd quarter. Alps Advisors Inc. now owns 9,343 shares of the bank’s stock worth $469,000 after acquiring an additional 1,108 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Zions Bancorp by 13.3% in the 3rd quarter. Pacer Advisors Inc. now owns 10,417 shares of the bank’s stock worth $522,000 after acquiring an additional 1,224 shares in the last quarter. MainStreet Investment Advisors LLC boosted its stake in Zions Bancorp by 1.9% in the 3rd quarter. MainStreet Investment Advisors LLC now owns 65,772 shares of the bank’s stock worth $3,298,000 after purchasing an additional 1,254 shares during the period. Finally, First Republic Investment Management Inc. boosted its stake in Zions Bancorp by 9.7% in the 2nd quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock worth $799,000 after purchasing an additional 1,338 shares during the period. 94.25% of the stock is owned by institutional investors.
About Zions Bancorp
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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