Zions Bancorp (NASDAQ:ZION) – Research analysts at B. Riley dropped their Q4 2017 earnings per share (EPS) estimates for Zions Bancorp in a research report issued on Thursday, according to Zacks Investment Research. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $0.73 for the quarter, down from their prior forecast of $0.77. B. Riley has a “Buy” rating and a $60.00 price objective on the stock. B. Riley also issued estimates for Zions Bancorp’s Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.02 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $1.05 EPS, Q3 2019 earnings at $1.12 EPS and Q4 2019 earnings at $1.11 EPS.
A number of other brokerages have also issued reports on ZION. BMO Capital Markets increased their price objective on shares of Zions Bancorp and gave the company a “market perform” rating in a report on Tuesday, January 23rd. DA Davidson reaffirmed a “buy” rating and set a $62.00 price objective on shares of Zions Bancorp in a report on Tuesday, January 23rd. Wells Fargo & Co reaffirmed an “outperform” rating and set a $65.00 price objective (up from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. Sanford C. Bernstein set a $58.00 target price on Zions Bancorp and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada increased their target price on Zions Bancorp to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $54.78.
Shares of Zions Bancorp (NASDAQ:ZION) traded down $0.83 on Friday, reaching $54.15. 4,451,448 shares of the company’s stock were exchanged, compared to its average volume of 1,981,194. 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 Bancorp has a twelve month low of $38.43 and a twelve month high of $55.61. The stock has a market cap of $10,696.36, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.60 and a beta of 1.45.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The business had revenue of $665.00 million during the quarter, compared to analyst estimates of $670.55 million. During the same period last year, the firm posted $0.60 EPS.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 15th will be given a $0.20 dividend. The ex-dividend date is Wednesday, February 14th. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. Zions Bancorp’s dividend payout ratio (DPR) is currently 24.62%.
In other news, General Counsel Thomas E. Laursen sold 1,250 shares of Zions Bancorp stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total transaction of $67,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander Hume sold 7,196 shares of Zions Bancorp stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $53.87, for a total value of $387,648.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,425 shares of company stock valued at $2,513,426. 1.46% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Zions Bancorp by 2,081.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after purchasing an additional 2,872 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Zions Bancorp during the second quarter worth $175,000. RNC Capital Management LLC bought a new stake in shares of Zions Bancorp during the fourth quarter worth $203,000. Conning Inc. bought a new stake in shares of Zions Bancorp during the third quarter worth $210,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Zions Bancorp during the third quarter worth $212,000. Institutional investors and hedge funds own 93.57% 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.
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