Zions Bancorp (NASDAQ:ZION) – Analysts at FBR & Co reduced their Q3 2016 EPS estimates for Zions Bancorp in a research note issued to investors on Tuesday. FBR & Co analyst P. Miller now anticipates that the firm will post earnings of $0.49 per share for the quarter, down from their prior forecast of $0.50. FBR & Co currently has a “Market Perform” rating and a $32.00 target price on the stock. FBR & Co also issued estimates for Zions Bancorp’s Q4 2017 earnings at $0.61 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same period in the previous year, the business earned $0.41 earnings per share.
A number of other research firms have also commented on ZION. Raymond James Financial Inc. lowered Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 6th. Barclays PLC upped their target price on Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank AG increased their price target on Zions Bancorp from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Tuesday. Piper Jaffray Cos. lowered Zions Bancorp from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $30.00 to $32.00 in a report on Monday. Finally, Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Hold” and a consensus target price of $32.60.
Zions Bancorp (NASDAQ:ZION) traded up 0.13% during midday trading on Wednesday, hitting $31.34. The stock had a trading volume of 550,237 shares. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 18.89 and a beta of 1.54. The firm has a 50-day moving average price of $30.52 and a 200-day moving average price of $27.59. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $32.15.
In related news, insider Mark Richard Young sold 65,000 shares of Zions Bancorp stock in a transaction on 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 of the company’s stock, valued at $1,165,396.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Keith D. Maio sold 9,000 shares of Zions Bancorp stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the sale, the executive vice president now directly owns 44,072 shares of the company’s stock, valued at approximately $1,232,693.84. The disclosure for this sale can be found here. Corporate insiders own 2.06% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Aperio Group LLC raised its stake in Zions Bancorp by 127.0% in the first quarter. Aperio Group LLC now owns 79,436 shares of the company’s stock valued at $1,923,000 after buying an additional 44,447 shares in the last quarter. Nisa Investment Advisors L.L.C. raised its stake in Zions Bancorp by 13.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 59,197 shares of the company’s stock valued at $1,433,000 after buying an additional 7,200 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in Zions Bancorp during the first quarter valued at about $407,000. Ngam Advisors L.P. raised its stake in Zions Bancorp by 5.8% in the first quarter. Ngam Advisors L.P. now owns 13,776 shares of the company’s stock valued at $334,000 after buying an additional 755 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Zions Bancorp by 30.9% in the first quarter. Prudential Financial Inc. now owns 327,109 shares of the company’s stock valued at $7,919,000 after buying an additional 77,300 shares in the last quarter. 87.36% of the stock is owned by institutional investors.
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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