Zions Bancorporation (NASDAQ:ZION) issued its quarterly earnings results on Monday. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01), Bloomberg Earnings reports. Zions Bancorporation had a return on equity of 8.14% and a net margin of 21.97%. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same period last year, the firm earned $0.57 EPS.

Shares of Zions Bancorporation (NASDAQ:ZION) traded down 0.09% on Tuesday, reaching $46.35. The company had a trading volume of 3,804,748 shares. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 18.45 and a beta of 1.44. The stock’s 50 day moving average is $45.44 and its 200 day moving average is $43.38. Zions Bancorporation has a 52 week low of $30.85 and a 52 week high of $48.33.

ILLEGAL ACTIVITY WARNING: “Zions Bancorporation (ZION) Issues Quarterly Earnings Results” was originally published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/23/zions-bancorp-zion-announces-earnings-results.html.

In other Zions Bancorporation news, insider David E. Blackford sold 9,533 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $44.94, for a total value of $428,413.02. Following the completion of the sale, the insider now owns 22,997 shares of the company’s stock, valued at $1,033,485.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $46.38, for a total transaction of $46,380.00. Following the completion of the sale, the general counsel now directly owns 23,484 shares of the company’s stock, valued at approximately $1,089,187.92. The disclosure for this sale can be found here. In the last three months, insiders sold 27,118 shares of company stock valued at $1,222,407. 1.46% of the stock is owned by insiders.

Zions Bancorporation declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $465.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Several equities research analysts have issued reports on ZION shares. FIG Partners lifted their price target on Zions Bancorporation from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, July 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price target (up previously from $45.00) on shares of Zions Bancorporation in a research note on Friday, July 7th. 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, July 27th. BidaskClub lowered Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 price target on shares of Zions Bancorporation in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. Zions Bancorporation presently has an average rating of “Hold” and an average target price of $48.00.

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 for Zions Bancorporation (NASDAQ:ZION)

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.