Jefferies Group Analysts Increase Earnings Estimates for Zions Bancorp (ZION)

Zions Bancorp (NASDAQ:ZION) – Investment analysts at Jefferies Group raised their FY2018 earnings estimates for Zions Bancorp in a research note issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the bank will post earnings of $3.52 per share for the year, up from their previous estimate of $3.05. Jefferies Group has a “Buy” rating and a $54.00 price target on the stock. Jefferies Group also issued estimates for Zions Bancorp’s FY2019 earnings at $3.85 EPS.

Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $666.83 million. During the same quarter last year, the firm posted $0.57 EPS.

Other research analysts have also recently issued research reports about the company. BidaskClub upgraded Zions Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. B. Riley set a $54.00 price target on Zions Bancorp and gave the stock a “buy” rating in a research note on Monday, November 20th. FBR & Co reiterated a “buy” rating and issued a $54.00 price target on shares of Zions Bancorp in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $60.00 price target on shares of Zions Bancorp in a research note on Friday, December 22nd. Finally, Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $52.12.

Zions Bancorp (NASDAQ:ZION) traded up $0.76 during trading hours on Wednesday, hitting $53.11. The company had a trading volume of 1,242,800 shares, compared to its average volume of 2,012,850. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $53.23. The firm has a market capitalization of $10,710.00, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48.

In other news, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold 43,979 shares of company stock worth $2,057,927 in the last 90 days. 1.46% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Americafirst Capital Management LLC acquired a new stake in shares of Zions Bancorp during the 2nd quarter worth approximately $175,000. Conning Inc. acquired a new stake in shares of Zions Bancorp during the 3rd quarter worth approximately $210,000. Janney Montgomery Scott LLC acquired a new stake in shares of Zions Bancorp during the 3rd quarter worth approximately $212,000. Magnetar Financial LLC acquired a new stake in shares of Zions Bancorp during the 3rd quarter worth approximately $215,000. Finally, Advisor Group Inc. raised its position in shares of Zions Bancorp by 20.8% during the 2nd quarter. Advisor Group Inc. now owns 5,234 shares of the bank’s stock worth $229,000 after purchasing an additional 901 shares during the period. Institutional investors and hedge funds own 92.54% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Stock Observer and is owned by of Stock Observer. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://www.thestockobserver.com/2018/01/12/jefferies-group-analysts-increase-earnings-estimates-for-zions-bancorp-zion.html.

About Zions Bancorp

Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.

Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply