Zions Bancorporation (NASDAQ:ZION) – Analysts at FBR & Co raised their Q4 2017 earnings per share estimates for shares of Zions Bancorporation in a report issued on Tuesday, according to Zacks Investment Research. FBR & Co analyst S. Moss now expects that the bank will post earnings of $0.77 per share for the quarter, up from their prior forecast of $0.76. FBR & Co has a “Buy” rating and a $54.00 price objective on the stock. FBR & Co also issued estimates for Zions Bancorporation’s Q2 2018 earnings at $0.79 EPS, Q1 2019 earnings at $0.84 EPS, Q2 2019 earnings at $0.90 EPS and FY2019 earnings at $3.65 EPS.
Other analysts have also issued research reports about the stock. Bank of America Corporation upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and boosted their price target for the company from $50.00 to $52.00 in a research note on Wednesday, August 16th. Jefferies Group LLC restated a “buy” rating and set a $49.00 price target on shares of Zions Bancorporation in a research note on Friday, September 15th. Morgan Stanley restated an “equal weight” rating and set a $49.00 price target (up previously from $48.00) on shares of Zions Bancorporation in a research note on Wednesday, October 4th. Zacks Investment Research lowered shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub lowered shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.
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Zions Bancorporation (ZION) opened at $43.93 on Wednesday. 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 Bancorporation has a 1 year low of $35.96 and a 1 year high of $48.33. The stock has a market cap of $8,782.74, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.70 and a beta of 1.48.
Zions Bancorporation (NASDAQ:ZION) last announced 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 company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same period last year, the firm posted $0.57 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new stake in Zions Bancorporation during the second quarter valued at about $108,000. Global X Management Co. LLC lifted its holdings in Zions Bancorporation by 340.4% during the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock valued at $127,000 after purchasing an additional 2,335 shares during the last quarter. Exane Derivatives purchased a new stake in Zions Bancorporation during the second quarter valued at about $132,000. Americafirst Capital Management LLC purchased a new stake in Zions Bancorporation during the second quarter valued at about $175,000. Finally, FNY Partners Fund LP purchased a new stake in Zions Bancorporation during the first quarter valued at about $188,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.
In other Zions Bancorporation news, insider Dianne R. James sold 1,585 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $45.22, for a total transaction of $71,673.70. Following the sale, the insider now directly owns 21,866 shares of the company’s stock, valued at $988,780.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roger B. Porter acquired 1,616 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $43.99 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last 90 days, insiders have sold 16,585 shares of company stock valued at $747,614. 1.46% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.64 annualized dividend and a yield of 1.46%. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio is presently 18.05%.
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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