Zions Bancorp to Post FY2018 Earnings of $3.80 Per Share, B. Riley Forecasts (ZION)
Zions Bancorp (NASDAQ:ZION) – Stock analysts at B. Riley increased their FY2018 earnings per share (EPS) estimates for Zions Bancorp in a note issued to investors on Thursday. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $3.80 per share for the year, up from their prior forecast of $3.25. B. Riley has a “Buy” rating and a $54.00 price target on the stock. B. Riley also issued estimates for Zions Bancorp’s FY2019 earnings at $4.25 EPS.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorp had a net margin of 22.70% and a return on equity of 8.54%. During the same period in the previous year, the firm posted $0.57 EPS.
Shares of Zions Bancorp (ZION) opened at $53.28 on Monday. The stock has a market cap of $10,642.35, a PE ratio of 20.03, a PEG ratio of 1.62 and a beta of 1.48. Zions Bancorp has a 52-week low of $38.43 and a 52-week high of $53.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Zions Bancorp by 4.3% during the second quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock worth $932,892,000 after purchasing an additional 882,190 shares during the period. State Street Corp raised its position in shares of Zions Bancorp by 8.7% during the second quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock worth $543,315,000 after purchasing an additional 986,548 shares during the period. Balyasny Asset Management LLC raised its position in shares of Zions Bancorp by 705.8% during the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after purchasing an additional 2,791,044 shares during the period. Cortland Advisers LLC raised its position in shares of Zions Bancorp by 49.6% during the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock worth $150,006,000 after purchasing an additional 1,053,900 shares during the period. Finally, TCW Group Inc. raised its position in shares of Zions Bancorp by 1.0% during the third quarter. TCW Group Inc. now owns 2,953,568 shares of the bank’s stock worth $139,349,000 after purchasing an additional 28,685 shares during the period. 92.53% of the stock is currently owned by institutional investors.
In other Zions Bancorp news, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.55, for a total value of $74,480.00. The disclosure for this sale can be found here. Insiders sold 43,979 shares of company stock worth $2,057,927 over the last quarter. 1.46% of the stock is currently owned by company insiders.
Zions Bancorp 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.
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