Zions Bancorp (NASDAQ:ZION) – Investment analysts at Jefferies Group raised their Q1 2018 EPS estimates for Zions Bancorp in a report released on Friday. Jefferies Group analyst K. Usdin now expects that the bank will earn $0.80 per share for the quarter, up from their prior estimate of $0.79. Jefferies Group also issued estimates for Zions Bancorp’s Q3 2018 earnings at $0.95 EPS, Q4 2018 earnings at $0.99 EPS, FY2018 earnings at $3.60 EPS and FY2019 earnings at $3.95 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.07. The business had revenue of $665.00 million during the quarter, compared to the consensus estimate of $670.55 million. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. During the same period in the prior year, the company earned $0.60 earnings per share.
Other equities research analysts also recently issued reports about the company. BidaskClub raised Zions Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. B. Riley restated a “buy” rating and set a $60.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 23rd. DA Davidson restated a “buy” rating and set a $62.00 price target on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Royal Bank of Canada upped their price target on Zions Bancorp from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. Finally, Zacks Investment Research cut Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.22.
Shares of Zions Bancorp (NASDAQ:ZION) opened at $55.07 on Monday. The firm has a market capitalization of $10,878.09, a P/E ratio of 21.18, a PEG ratio of 1.63 and a beta of 1.45. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $55.61. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th will be given a $0.20 dividend. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 1.45%. Zions Bancorp’s dividend payout ratio is presently 30.77%.
In other Zions Bancorp news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total value of $604,602.36. The disclosure for this sale can be found here. Insiders sold 58,040 shares of company stock valued at $2,806,600 in the last quarter. 1.46% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in Zions Bancorp by 4.0% in the third quarter. Wells Fargo & Company MN now owns 2,255,672 shares of the bank’s stock worth $106,423,000 after acquiring an additional 87,108 shares in the last quarter. HWG Holdings LP purchased a new position in Zions Bancorp in the fourth quarter worth $1,656,000. Korea Investment CORP raised its position in Zions Bancorp by 13.6% in the third quarter. Korea Investment CORP now owns 147,400 shares of the bank’s stock worth $6,954,000 after acquiring an additional 17,600 shares in the last quarter. TCW Group Inc. raised its position in Zions Bancorp by 1.0% in the third quarter. TCW Group Inc. now owns 2,953,568 shares of the bank’s stock worth $139,349,000 after acquiring an additional 28,685 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Zions Bancorp by 1.1% in the third 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. Hedge funds and other institutional investors own 93.46% 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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