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.
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.
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