Zions Bancorp (NASDAQ:ZION) – Investment analysts at Jefferies Group increased their FY2016 earnings per share (EPS) estimates for Zions Bancorp in a report released on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the firm will earn $1.94 per share for the year, up from their previous forecast of $1.93. Jefferies Group currently has a “Hold” rating and a $31.00 target price on the stock.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results 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 quarter in the previous year, the business earned $0.41 earnings per share.
A number of other brokerages have also recently weighed in on ZION. Raymond James Financial Inc. cut shares of Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 6th. Barclays PLC lifted their price target on shares of Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank AG lifted their price target on shares of Zions Bancorp from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Tuesday. FBR & Co cut shares of Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research report on Tuesday. Finally, Piper Jaffray Cos. cut shares of Zions Bancorp from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $32.00 in a research report on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Zions Bancorp presently has a consensus rating of “Hold” and an average price target of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.86 on Friday. The company’s 50-day moving average is $30.65 and its 200-day moving average is $27.68. The stock has a market cap of $6.33 billion, a PE ratio of 18.60 and a beta of 1.54. Zions Bancorp has a 52-week low of $19.65 and a 52-week high of $32.15.
Several institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its position in Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares during the period. Seven Eight Capital LLC boosted its position in Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock worth $155,000 after buying an additional 4,500 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Zions Bancorp during the second quarter worth $208,000. MAI Capital Management boosted its position in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares during the period. Finally, Parametrica Management Ltd bought a new position in Zions Bancorp during the second quarter worth $234,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider David E. Blackford sold 1,620 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.81, for a total transaction of $45,052.20. Following the transaction, the insider now directly owns 29,429 shares of the company’s stock, valued at approximately $818,420.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Keith D. Maio sold 9,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.97, for a total transaction of $251,730.00. Following the transaction, the executive vice president now directly owns 44,072 shares in the company, valued at $1,232,693.84. 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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