Zions Bancorp (NASDAQ:ZION) – Stock analysts at Jefferies Group boosted their Q1 2018 earnings estimates for shares of Zions Bancorp in a research note issued on Wednesday, April 4th. Jefferies Group analyst K. Usdin now anticipates that the bank will earn $0.82 per share for the quarter, up from their prior forecast of $0.80. Jefferies Group also issued estimates for Zions Bancorp’s FY2018 earnings at $3.70 EPS and FY2019 earnings at $4.05 EPS.
A number of other analysts have also recently commented on the company. UBS began coverage on Zions Bancorp in a research report on Wednesday, March 21st. They issued a “buy” rating and a $67.00 price target on the stock. Raymond James Financial raised Zions Bancorp from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a research report on Thursday, March 15th. They noted that the move was a valuation call. Sandler O’Neill reissued a “buy” rating and issued a $62.00 price target on shares of Zions Bancorp in a research report on Friday, March 9th. Piper Jaffray reissued a “hold” rating on shares of Zions Bancorp in a research report on Tuesday, March 6th. Finally, Barclays boosted their price target on Zions Bancorp from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.67.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.07. The business had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $670.55 million. Zions Bancorp had a return on equity of 9.04% and a net margin of 21.58%. During the same period in the previous year, the firm posted $0.60 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC purchased a new position in Zions Bancorp in the 4th quarter worth approximately $102,000. Delpha Capital Management LLC purchased a new position in Zions Bancorp in the 4th quarter worth approximately $107,000. G&S Capital LLC purchased a new position in Zions Bancorp in the 4th quarter worth approximately $115,000. Tower Research Capital LLC TRC raised its stake in Zions Bancorp by 1,274.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after buying an additional 2,562 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Zions Bancorp by 2,081.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after buying an additional 2,872 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.
In related news, General Counsel Thomas E. Laursen sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total value of $67,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $56.15, for a total transaction of $1,758,000.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,224 shares of company stock valued at $3,156,817. 1.46% of the stock is owned by company insiders.
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About Zions Bancorp
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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