SunTrust Banks Comments on Zions Bancorp’s Q1 2018 Earnings (ZION)

Zions Bancorp (NASDAQ:ZION) – Investment analysts at SunTrust Banks upped their Q1 2018 earnings per share estimates for shares of Zions Bancorp in a research note issued to investors on Monday. SunTrust Banks analyst J. Demba now anticipates that the bank will earn $0.84 per share for the quarter, up from their previous estimate of $0.70. SunTrust Banks also issued estimates for Zions Bancorp’s Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.97 EPS and Q4 2018 earnings at $1.01 EPS.

ZION has been the topic of a number of other research reports. Piper Jaffray Companies reiterated a “hold” rating and set a $44.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 24th. FBR & Co reiterated a “buy” rating and set a $54.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 24th. Barclays set a $52.00 price objective on shares of Zions Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub lowered shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $51.78.

Zions Bancorp (ZION) opened at $51.81 on Tuesday. Zions Bancorp has a 12 month low of $38.43 and a 12 month high of $52.20. 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 company has a market cap of $10,350.00, a P/E ratio of 19.40, a P/E/G ratio of 1.72 and a beta of 1.48.

Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 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 company had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same quarter in the prior year, the business earned $0.57 EPS.

In other Zions Bancorp news, EVP Keith D. Maio sold 13,019 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total transaction of $604,602.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,979 shares of company stock worth $2,057,927. Corporate insiders own 1.46% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. acquired a new stake in shares of Zions Bancorp during the 2nd quarter valued at $108,000. Federated Investors Inc. PA boosted its stake in shares of Zions Bancorp by 55.4% during the 2nd quarter. Federated Investors Inc. PA now owns 5,829 shares of the bank’s stock valued at $256,000 after buying an additional 2,077 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Zions Bancorp by 1.3% during the 2nd quarter. Principal Financial Group Inc. now owns 319,256 shares of the bank’s stock valued at $14,018,000 after buying an additional 4,016 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Zions Bancorp by 40.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,398 shares of the bank’s stock valued at $983,000 after buying an additional 6,479 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Zions Bancorp by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock valued at $661,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 92.54% of the company’s stock.

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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.

Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

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