Zions Bancorp (NASDAQ:ZION) – Research analysts at Jefferies Group lowered their Q4 2016 earnings per share (EPS) estimates for Zions Bancorp in a note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now expects that the firm will post earnings per share of $0.54 for the quarter, down from their prior forecast of $0.57. Jefferies Group currently has a “Hold” rating and a $31.00 target price on the stock. Jefferies Group also issued estimates for Zions Bancorp’s Q1 2017 earnings at $0.47 EPS, Q2 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.62 EPS, Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.29 EPS and FY2018 earnings at $2.69 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, beating the 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 last year, the business earned $0.41 EPS.
ZION has been the topic of a number of other reports. Vetr upgraded shares of Zions Bancorp from a “strong sell” rating to a “sell” rating and set a $29.00 target price on the stock in a report on Monday, September 5th. Raymond James Financial Inc. increased their target price on shares of Zions Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Credit Suisse Group AG raised their price objective on shares of Zions Bancorp from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, September 20th. Bank of America Corp. lowered shares of Zions Bancorp from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Monday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.36 on Thursday. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15. The firm has a 50-day moving average of $30.60 and a 200 day moving average of $27.64. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 18.30 and a beta of 1.54.
A number of hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake 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 in the last quarter. Seven Eight Capital LLC increased its stake 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Zions Bancorp during the second quarter worth approximately $208,000. MAI Capital Management increased its stake 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 in the last quarter. Finally, Parametrica Management Ltd bought a new stake in Zions Bancorp during the second quarter worth approximately $234,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Keith D. Maio sold 9,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.97, for a total transaction of $251,730.00. Following the sale, the executive vice president now owns 44,072 shares of the company’s stock, valued at $1,232,693.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the insider now directly owns 56,245 shares in the company, valued at approximately $1,165,396.40. The disclosure for this sale can be found here. Corporate insiders own 2.06% of the company’s stock.
Zions Bancorp Company Profile
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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