Zions Bancorporation (NASDAQ:ZION) – Investment analysts at FBR & Co dropped their FY2017 earnings per share estimates for Zions Bancorporation in a research note issued to investors on Tuesday, Zacks Investment Research reports. FBR & Co analyst S. Moss now anticipates that the bank will earn $2.81 per share for the year, down from their previous forecast of $2.87. FBR & Co has a “Buy” rating and a $54.00 price objective on the stock. FBR & Co also issued estimates for Zions Bancorporation’s Q1 2018 earnings at $0.73 EPS and Q3 2019 earnings at $0.97 EPS.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Zions Bancorporation 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 period in the previous year, the business posted $0.57 EPS. COPYRIGHT VIOLATION WARNING: This report was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/11/fy2017-eps-estimates-for-zions-bancorporation-zion-reduced-by-fbr-co.html.
A number of other research firms also recently issued reports on ZION. Robert W. Baird raised shares of Zions Bancorporation from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Friday, September 8th. Wells Fargo & Company initiated coverage on shares of Zions Bancorporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $56.00 price objective on the stock. Bank of America Corporation raised shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $52.00 in a report on Wednesday, August 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $51.00 price objective on shares of Zions Bancorporation in a report on Saturday, September 16th. Finally, FIG Partners reaffirmed an “outperform” rating and set a $54.00 price objective (up from $50.00) on shares of Zions Bancorporation in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. Zions Bancorporation has an average rating of “Hold” and an average target price of $48.50.
Zions Bancorporation (ZION) traded down $0.04 during midday trading on Thursday, reaching $43.93. 2,049,000 shares of the company traded hands, compared to its average volume of 2,514,875. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The firm has a market cap of $8,782.74, a P/E ratio of 16.53, a P/E/G ratio of 1.70 and a beta of 1.48. Zions Bancorporation has a twelve month low of $35.96 and a twelve month high of $48.33.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th will be paid a $0.16 dividend. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, November 14th. Zions Bancorporation’s payout ratio is currently 18.05%.
In other Zions Bancorporation news, Director Roger B. Porter acquired 1,616 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average price of $43.99 per share, with a total value of $71,087.84. Following the completion of the acquisition, the director now owns 42,001 shares of the company’s stock, valued at $1,847,623.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dianne R. James sold 1,585 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $45.22, for a total value of $71,673.70. Following the transaction, the insider now directly owns 21,866 shares of the company’s stock, valued at approximately $988,780.52. The disclosure for this sale can be found here. Insiders sold a total of 16,585 shares of company stock worth $747,614 over the last 90 days. 1.46% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Zions Bancorporation by 4.0% during the third quarter. Wells Fargo & Company MN now owns 2,255,672 shares of the bank’s stock worth $106,423,000 after purchasing an additional 87,108 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Zions Bancorporation by 0.5% during the third quarter. Schroder Investment Management Group now owns 956,280 shares of the bank’s stock worth $44,887,000 after purchasing an additional 4,445 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Zions Bancorporation by 9.2% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,442 shares of the bank’s stock worth $776,000 after purchasing an additional 1,388 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of Zions Bancorporation during the third quarter worth about $4,260,000. Finally, Legal & General Group Plc grew its holdings in shares of Zions Bancorporation by 4.2% during the third quarter. Legal & General Group Plc now owns 1,002,859 shares of the bank’s stock worth $47,317,000 after purchasing an additional 40,278 shares in the last quarter. 94.51% of the stock is owned by institutional investors.
Zions Bancorporation 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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