Zions Bancorp (NASDAQ:ZION)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a research report issued on Tuesday, January 23rd. They currently have a $62.00 target price on the bank’s stock. DA Davidson’s target price suggests a potential upside of 13.74% from the company’s current price. DA Davidson also issued estimates for Zions Bancorp’s Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.91 EPS, FY2018 earnings at $3.48 EPS and FY2019 earnings at $3.89 EPS.
A number of other research analysts have also recently issued reports on ZION. Jefferies Group reissued a “buy” rating and set a $54.00 price objective on shares of Zions Bancorp in a report on Thursday, October 12th. Royal Bank of Canada lifted their price target on Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. BidaskClub cut Zions Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Barclays lifted their price objective on Zions Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price objective on shares of Zions Bancorp in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $55.22.
Shares of Zions Bancorp (NASDAQ:ZION) traded up $2.75 during mid-day trading on Tuesday, reaching $54.51. The company’s stock had a trading volume of 4,790,000 shares, compared to its average volume of 2,510,000. Zions Bancorp has a one year low of $38.43 and a one year high of $55.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $10,890.00, a P/E ratio of 20.81, a PEG ratio of 1.54 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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $670.55 million. During the same quarter last year, the company posted $0.60 earnings per share. sell-side analysts expect that Zions Bancorp will post 3.65 earnings per share for the current fiscal year.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,600 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total value of $74,480.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,540 shares of company stock worth $2,725,225. 1.46% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Crewe Advisors LLC bought a new position in Zions Bancorp in the fourth quarter valued at about $102,000. Delpha Capital Management LLC bought a new position in Zions Bancorp in the fourth quarter valued at about $107,000. Tower Research Capital LLC TRC raised its position in Zions Bancorp by 1,274.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,562 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Zions Bancorp by 2,081.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after purchasing an additional 2,872 shares during the last quarter. Finally, Blue Sky Asset Management LLC bought a new position in Zions Bancorp in the fourth quarter valued at about $157,000. 93.46% of the stock is currently owned by institutional investors.
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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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