Zions Bancorp (NASDAQ:ZION) – Stock analysts at FBR & Co reduced their FY2016 earnings per share estimates for Zions Bancorp in a report issued on Tuesday. FBR & Co analyst P. Miller now expects that the firm will earn $1.81 per share for the year, down from their previous estimate of $1.82. FBR & Co has a “Market Perform” rating and a $32.00 price objective on the stock. FBR & Co also issued estimates for Zions Bancorp’s Q4 2016 earnings at $0.50 EPS, Q1 2017 earnings at $0.47 EPS, Q2 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.62 EPS and FY2017 earnings at $2.25 EPS.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a net margin of 16.37% and a return on equity of 5.62%. During the same period in the previous year, the business posted $0.41 EPS.
Several other equities analysts also recently issued reports on ZION. JPMorgan Chase & Co. reissued a “hold” rating on shares of Zions Bancorp in a report on Saturday, July 9th. Barclays PLC boosted their price target on shares of Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank AG boosted their price target on shares of Zions Bancorp from $30.00 to $35.00 and gave the company a “hold” rating in a report on Tuesday. Royal Bank Of Canada reissued a “buy” rating and set a $32.00 price target on shares of Zions Bancorp in a report on Thursday, June 16th. Finally, Vetr raised shares of Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target for the company in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Zions Bancorp currently has a consensus rating of “Hold” and an average price target of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.36 on Thursday. The firm has a market capitalization of $6.23 billion, a PE ratio of 18.30 and a beta of 1.54. The company has a 50-day moving average of $30.60 and a 200-day moving average of $27.64. Zions Bancorp has a 52 week low of $19.65 and a 52 week high of $32.15.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Zions Bancorp by 3.4% in the second quarter. Vanguard Group Inc. now owns 17,950,779 shares of the company’s stock valued at $451,103,000 after buying an additional 596,109 shares during the period. State Street Corp boosted its stake in shares of Zions Bancorp by 3.6% in the second quarter. State Street Corp now owns 10,955,604 shares of the company’s stock valued at $275,313,000 after buying an additional 382,293 shares during the period. Wellington Management Group LLP boosted its stake in shares of Zions Bancorp by 4.9% in the first quarter. Wellington Management Group LLP now owns 9,115,604 shares of the company’s stock valued at $220,689,000 after buying an additional 429,375 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Zions Bancorp by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,371,029 shares of the company’s stock valued at $130,033,000 after buying an additional 43,881 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Zions Bancorp by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,359,703 shares of the company’s stock valued at $134,689,000 after buying an additional 393,926 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.
In other Zions Bancorp news, insider David E. Blackford sold 1,620 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.81, for a total value of $45,052.20. Following the sale, the insider now directly owns 29,429 shares in the company, valued at $818,420.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Richard Young sold 65,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the completion of the sale, the insider now owns 56,245 shares in the company, valued at $1,165,396.40. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by company insiders.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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