Zions Bancorp to Post FY2018 Earnings of $3.80 Per Share, B. Riley Forecasts (ZION)
Zions Bancorp (NASDAQ:ZION) – Equities research analysts at B. Riley increased their FY2018 earnings per share estimates for shares of Zions Bancorp in a report issued on Thursday. B. Riley analyst S. Moss now expects that the bank will earn $3.80 per share for the year, up from their previous estimate of $3.25. B. Riley currently has a “Buy” rating and a $54.00 target price on the stock. B. Riley also issued estimates for Zions Bancorp’s FY2019 earnings at $4.25 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Zions Bancorp had a net margin of 22.70% and a return on equity of 8.54%. 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 business earned $0.57 earnings per share.
Other equities analysts have also recently issued reports about the stock. Robert W. Baird cut shares of Zions Bancorp from a “neutral” rating to an “underperform” rating and set a $43.00 target price for the company. in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Zions Bancorp in a research note on Tuesday, October 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $49.00 target price (up from $48.00) on shares of Zions Bancorp in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Jefferies Group reissued a “buy” rating and issued a $54.00 target price on shares of Zions Bancorp in a research note on Thursday, October 12th. 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 stock. Zions Bancorp currently has an average rating of “Buy” and an average target price of $52.12.
Shares of Zions Bancorp (ZION) opened at $53.28 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $53.77. The stock has a market cap of $10,642.35, a P/E ratio of 20.03, a PEG ratio of 1.62 and a beta of 1.48.
A number of hedge funds have recently bought and sold shares of ZION. Federated Investors Inc. PA raised its stake in Zions Bancorp by 55.4% during the second quarter. Federated Investors Inc. PA now owns 5,829 shares of the bank’s stock worth $256,000 after acquiring an additional 2,077 shares in the last quarter. Principal Financial Group Inc. raised its stake in Zions Bancorp by 1.3% during the second quarter. Principal Financial Group Inc. now owns 319,256 shares of the bank’s stock worth $14,018,000 after acquiring an additional 4,016 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Zions Bancorp by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock worth $661,000 after acquiring an additional 39 shares in the last quarter. CIBC World Markets Inc. acquired a new position in Zions Bancorp during the second quarter worth about $524,000. Finally, Norinchukin Bank The raised its stake in Zions Bancorp by 12.5% during the second quarter. Norinchukin Bank The now owns 8,001 shares of the bank’s stock worth $351,000 after acquiring an additional 886 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Keith D. Maio sold 13,019 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total value of $604,602.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $46.55, for a total value of $74,480.00. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock valued at $2,057,927. 1.46% of the stock is currently owned by company insiders.
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Zions Bancorp Company Profile
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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