Zions Bancorp (NASDAQ:ZION) – Equities research analysts at FBR & Co decreased their FY2016 EPS estimates for Zions Bancorp in a research note issued on Tuesday. FBR & Co analyst P. Miller now expects that the brokerage will post earnings per share of $1.81 for the year, down from their prior estimate of $1.82. FBR & Co currently has a “Market Perform” rating and a $32.00 price objective on the stock. FBR & Co also issued estimates for Zions Bancorp’s Q4 2016 earnings at $0.50 EPS, Q1 2017 earnings at $0.47 EPS, Q2 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.62 EPS and FY2017 earnings at $2.25 EPS.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the business earned $0.41 EPS.
Several other equities research analysts have also recently weighed in on ZION. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Zions Bancorp in a research note on Saturday, July 9th. Barclays PLC increased their target price on shares of Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday. Deutsche Bank AG increased their target price on shares of Zions Bancorp from $30.00 to $35.00 and gave the company a “hold” rating in a research note on Tuesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 target price on shares of Zions Bancorp in a research note on Thursday, June 16th. Finally, Vetr upgraded shares of Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 target price for the company in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. Zions Bancorp has a consensus rating of “Hold” and an average target price of $32.60.
Zions Bancorp (NASDAQ:ZION) traded down 2.85% on Thursday, hitting $30.32. The company had a trading volume of 1,603,257 shares. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15. The stock has a market cap of $6.22 billion, a P/E ratio of 18.28 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.
In other Zions Bancorp news, insider Mark Richard Young sold 65,000 shares of Zions Bancorp stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the completion of the sale, the insider now owns 56,245 shares of the company’s stock, valued at approximately $1,165,396.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith D. Maio sold 9,000 shares of Zions Bancorp stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.97, for a total transaction of $251,730.00. Following the sale, the executive vice president now directly owns 44,072 shares of the company’s stock, valued at approximately $1,232,693.84. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ZION. 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 worth $121,000 after buying an additional 100 shares in 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 worth $155,000 after buying an additional 4,500 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Zions Bancorp during the second quarter worth approximately $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 worth $217,000 after buying an additional 27 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Zions Bancorp during the second quarter worth approximately $234,000. 87.36% of the stock is owned by hedge funds and other institutional investors.
About Zions Bancorp
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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