FY2017 EPS Estimates for Zions Bancorporation (ZION) Increased by Analyst
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.
WARNING: “FY2017 EPS Estimates for Zions Bancorporation (ZION) Increased by Analyst” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/07/27/fy2017-eps-estimates-for-zions-bancorporation-zion-increased-by-analyst.html.
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.
Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.