Zions Bancorporation (NASDAQ:ZION) – Equities researchers at FBR & Co boosted their FY2017 earnings per share estimates for shares of Zions Bancorporation in a research note issued to investors on Wednesday. FBR & Co analyst S. Moss now expects that the bank will post earnings of $2.86 per share for the year, up from their previous estimate of $2.60. FBR & Co also issued estimates for Zions Bancorporation’s FY2018 earnings at $3.20 EPS.

A number of other research analysts also recently weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 price target on shares of Zions Bancorporation in a research note on Thursday. FIG Partners reaffirmed an “outperform” rating and set a $54.00 price target (up from $50.00) on shares of Zions Bancorporation in a research note on Wednesday. BidaskClub downgraded Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation in a research note on Friday, July 14th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $49.00 price objective on shares of Zions Bancorporation in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Zions Bancorporation has an average rating of “Hold” and a consensus price target of $43.55.

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Zions Bancorporation (ZION) opened at 45.67 on Thursday. The company has a market cap of $9.25 billion, a PE ratio of 20.56 and a beta of 1.44. The company has a 50-day moving average price of $43.57 and a 200 day moving average price of $42.54. Zions Bancorporation has a 12-month low of $25.78 and a 12-month high of $48.33.

Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.11. The business had revenue of $660 million for the quarter, compared to analysts’ expectations of $640.34 million. Zions Bancorporation had a return on equity of 8.20% and a net margin of 21.97%. During the same quarter last year, the business earned $0.44 earnings per share.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives bought a new position in Zions Bancorporation during the second quarter valued at approximately $132,000. Global X Management Co. LLC increased its position in Zions Bancorporation by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock valued at $127,000 after buying an additional 2,335 shares in the last quarter. Segantii Capital Management Ltd bought a new position in Zions Bancorporation during the first quarter valued at approximately $151,000. Cypress Capital Management LLC WY bought a new position in Zions Bancorporation during the first quarter valued at approximately $169,000. Finally, FNY Partners Fund LP bought a new position in Zions Bancorporation during the first quarter valued at approximately $188,000. Hedge funds and other institutional investors own 94.65% of the company’s stock.

In other Zions Bancorporation news, General Counsel Thomas E. Laursen sold 860 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $41.16, for a total transaction of $35,397.60. Following the sale, the general counsel now owns 25,901 shares in the company, valued at $1,066,085.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David E. Blackford sold 942 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $40.44, for a total value of $38,094.48. Following the sale, the insider now owns 29,415 shares in the company, valued at approximately $1,189,542.60. The disclosure for this sale can be found here. Insiders have sold 46,184 shares of company stock worth $1,880,815 in the last 90 days. Company insiders own 1.46% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.12 per share. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. Zions Bancorporation’s dividend payout ratio (DPR) is presently 12.75%.

Zions Bancorporation declared that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $465.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Zions Bancorporation Company Profile

Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.

Earnings History and Estimates for Zions Bancorporation (NASDAQ:ZION)

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