Q4 2016 Earnings Forecast for Zions Bancorp (ZION) Issued By Jefferies Group
Zions Bancorp (NASDAQ:ZION) – Research analysts at Jefferies Group dropped their Q4 2016 earnings per share (EPS) estimates for Zions Bancorp in a research report issued on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the firm will earn $0.54 per share for the quarter, down from their previous forecast of $0.57. Jefferies Group currently has a “Hold” rating and a $31.00 target price on the stock. Jefferies Group also issued estimates for Zions Bancorp’s Q1 2017 earnings at $0.47 EPS, Q2 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.62 EPS, Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.29 EPS and FY2018 earnings at $2.69 EPS.
A number of other equities research analysts have also recently weighed in on ZION. Barclays PLC upped their price target on Zions Bancorp from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank AG increased their price target on Zions Bancorp from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Tuesday. FBR & Co lowered Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Tuesday. Piper Jaffray Cos. lowered Zions Bancorp from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Monday, October 10th. Finally, Raymond James Financial Inc. lowered Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.86 on Thursday. The firm has a market cap of $6.33 billion, a PE ratio of 18.60 and a beta of 1.54. The firm’s 50-day moving average price is $30.65 and its 200 day moving average price is $27.68. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $32.15.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same quarter in the prior year, the business earned $0.41 EPS.
In other Zions Bancorp news, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the transaction, the executive vice president now owns 44,072 shares of the company’s stock, valued at $1,232,693.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Blackford sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.81, for a total transaction of $45,052.20. Following the completion of the transaction, the insider now directly owns 29,429 shares in the company, valued at approximately $818,420.49. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC boosted its position in shares of Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock worth $155,000 after buying an additional 4,500 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Zions Bancorp during the second quarter worth about $208,000. MAI Capital Management boosted its position in shares of Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Zions Bancorp during the second quarter worth about $234,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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