Zions Bancorp (NASDAQ:ZION) – B. Riley boosted their FY2018 earnings per share (EPS) estimates for Zions Bancorp in a research report issued to clients and investors on Tuesday, June 19th. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $3.99 for the year, up from their previous forecast of $3.70. B. Riley has a “Buy” rating and a $64.00 price target on the stock. B. Riley also issued estimates for Zions Bancorp’s Q3 2019 earnings at $1.11 EPS.
Several other research analysts also recently commented on ZION. BidaskClub downgraded shares of Zions Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 5th. Susquehanna Bancshares set a $54.00 target price on shares of Zions Bancorp and gave the stock a “hold” rating in a report on Monday, April 23rd. BMO Capital Markets dropped their target price on shares of Zions Bancorp from $60.00 to $57.00 and set a “market perform” rating on the stock in a report on Tuesday, April 24th. Piper Jaffray Companies reiterated a “hold” rating on shares of Zions Bancorp in a report on Tuesday, April 24th. Finally, Wedbush began coverage on shares of Zions Bancorp in a report on Monday, May 14th. They issued a “neutral” rating and a $62.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $58.29.
Shares of Zions Bancorp opened at $56.17 on Thursday, according to Marketbeat Ratings. The firm has a market capitalization of $10.96 billion, a P/E ratio of 19.64, a PEG ratio of 1.52 and a beta of 1.35. Zions Bancorp has a one year low of $41.22 and a one year high of $59.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, April 23rd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $0.82 by $0.27. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $666.12 million. Zions Bancorp had a net margin of 24.49% and a return on equity of 10.41%. During the same quarter last year, the firm posted $0.61 EPS.
Several institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Zions Bancorp during the 1st quarter valued at about $795,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Zions Bancorp by 25.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 27,007 shares of the bank’s stock valued at $1,424,000 after acquiring an additional 5,526 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in shares of Zions Bancorp during the 1st quarter valued at about $1,608,000. Xact Kapitalforvaltning AB boosted its position in shares of Zions Bancorp by 6.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 19,895 shares of the bank’s stock valued at $1,049,000 after acquiring an additional 1,148 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Zions Bancorp during the 1st quarter valued at about $7,411,000. Institutional investors and hedge funds own 93.33% of the company’s stock.
In other news, President Scott J. Mclean sold 17,832 shares of the business’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $55.18, for a total transaction of $983,969.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce K. Alexander sold 3,892 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $56.32, for a total transaction of $219,197.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,315 shares of company stock worth $2,803,649. Insiders own 1.60% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 24th. Stockholders of record on Thursday, May 17th were issued a dividend of $0.24 per share. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, May 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.71%. Zions Bancorp’s payout ratio is presently 33.57%.
About Zions Bancorp
Zions Bancorporation, a financial holding company, provides a range of banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; and residential mortgage servicing and lending.
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