Zions Bancorp (NASDAQ:ZION) – Analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for Zions Bancorp in a report released on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the bank will earn $2.79 per share for the year, up from their prior forecast of $2.78. Jefferies Group has a “Buy” rating and a $54.00 price target on the stock.
Zions Bancorp (NASDAQ:ZION) last announced 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 analysts’ expectations of $666.83 million. During the same period last year, the company posted $0.57 EPS.
ZION has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective on shares of Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Barclays upped their price objective on shares of Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $49.00 price objective (up previously from $48.00) on shares of Zions Bancorp in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Zions Bancorp presently has a consensus rating of “Buy” and an average price target of $52.12.
Shares of Zions Bancorp (NASDAQ:ZION) opened at $53.11 on Friday. Zions Bancorp has a 12 month low of $38.43 and a 12 month high of $53.23. The stock has a market cap of $10,610.00, a price-to-earnings ratio of 19.89, a PEG ratio of 1.72 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05.
In related news, insider Bruce K. Alexander sold 6,089 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total value of $292,089.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,979 shares of company stock valued at $2,057,927. Corporate insiders own 1.46% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Jaffetilchin Investment Partners LLC bought a new position in shares of Zions Bancorp in the 4th quarter worth about $724,000. Parametric Portfolio Associates LLC increased its stake in shares of Zions Bancorp by 2.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 767,154 shares of the bank’s stock worth $36,194,000 after acquiring an additional 16,540 shares in the last quarter. Shelton Capital Management bought a new position in shares of Zions Bancorp in the 3rd quarter worth about $3,337,000. Cetera Advisor Networks LLC increased its stake in shares of Zions Bancorp by 9.4% in the 3rd quarter. Cetera Advisor Networks LLC now owns 16,597 shares of the bank’s stock worth $784,000 after acquiring an additional 1,423 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Zions Bancorp by 1.1% in the 3rd quarter. California Public Employees Retirement System now owns 582,012 shares of the bank’s stock worth $27,459,000 after acquiring an additional 6,412 shares in the last quarter. Institutional investors own 92.54% of the company’s stock.
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About Zions Bancorp
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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