Jefferies Group Comments on Zions Bancorp’s Q4 2016 Earnings (ZION)
Zions Bancorp (NASDAQ:ZION) – Analysts at Jefferies Group decreased their Q4 2016 EPS estimates for shares of Zions Bancorp in a report issued on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the brokerage will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.57. Jefferies Group currently has a “Hold” rating and a $31.00 price target 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.
Several other equities analysts also recently commented on ZION. JPMorgan Chase & Co. restated a “hold” rating on shares of Zions Bancorp in a research report on Saturday, July 9th. Barclays PLC raised their price target on Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank AG raised their price target on Zions Bancorp from $30.00 to $35.00 and gave the company a “hold” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed 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 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 given a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Hold” and a consensus target price of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) traded down 3.01% during midday trading on Thursday, hitting $30.27. The stock had a trading volume of 1,703,446 shares. The firm has a market capitalization of $6.21 billion, a PE ratio of 18.25 and a beta of 1.54. The firm’s 50-day moving average price is $30.57 and its 200-day moving average price is $27.62. Zions Bancorp has a one year low of $19.65 and a one year high of $32.15.
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Zions Bancorp (NASDAQ:ZION) last announced its 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 return on equity of 5.62% and a net margin of 16.37%. During the same quarter in the prior year, the business earned $0.41 earnings per share.
In related news, insider Mark Richard Young sold 65,000 shares of the company’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 owns 56,245 shares in the company, valued at $1,165,396.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Blackford sold 1,620 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.81, for a total value of $45,052.20. Following the sale, the insider now owns 29,429 shares in the company, valued at approximately $818,420.49. The disclosure for this sale can be found here. 2.06% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised 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 valued at $121,000 after buying an additional 100 shares during the last quarter. Seven Eight Capital LLC raised 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 valued at $155,000 after buying an additional 4,500 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Zions Bancorp during the second quarter valued at about $208,000. MAI Capital Management raised 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 valued at $217,000 after buying an additional 27 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in Zions Bancorp during the second quarter valued at about $234,000. Institutional investors and hedge funds own 87.36% 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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