Zions Bancorp (NASDAQ:ZION) – Analysts at Piper Jaffray Companies increased their Q4 2018 earnings per share estimates for Zions Bancorp in a research report issued on Tuesday, November 6th. Piper Jaffray Companies analyst K. Barker now forecasts that the bank will post earnings per share of $1.02 for the quarter, up from their prior forecast of $1.01. Piper Jaffray Companies currently has a “Overweight” rating and a $57.00 target price on the stock. Piper Jaffray Companies also issued estimates for Zions Bancorp’s Q2 2019 earnings at $1.00 EPS, Q3 2019 earnings at $1.11 EPS, FY2019 earnings at $4.22 EPS and FY2020 earnings at $4.51 EPS.
Zions Bancorp (NASDAQ:ZION) last released its earnings results on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $699.87 million. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. During the same quarter last year, the company earned $0.72 EPS.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, July 16th. Jefferies Financial Group restated a “buy” rating and set a $60.00 price objective on shares of Zions Bancorp in a research report on Friday, July 13th. Royal Bank of Canada restated a “buy” rating and set a $61.00 price objective on shares of Zions Bancorp in a research report on Tuesday, July 24th. SunTrust Banks raised their price objective on shares of Zions Bancorp to $52.00 and gave the company a “buy” rating in a research report on Tuesday, October 23rd. They noted that the move was a valuation call. Finally, Raymond James reduced their price objective on shares of Zions Bancorp from $62.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.57.
Zions Bancorp stock opened at $50.16 on Thursday. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82. Zions Bancorp has a 52 week low of $43.50 and a 52 week high of $59.19.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Broadview Advisors LLC lifted its position in shares of Zions Bancorp by 3.4% in the third quarter. Broadview Advisors LLC now owns 187,950 shares of the bank’s stock worth $9,426,000 after purchasing an additional 6,200 shares in the last quarter. Dean Capital Investments Management LLC purchased a new stake in shares of Zions Bancorp in the third quarter worth approximately $665,000. DekaBank Deutsche Girozentrale lifted its position in shares of Zions Bancorp by 21.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 16,596 shares of the bank’s stock worth $933,000 after purchasing an additional 2,984 shares in the last quarter. Sarasin & Partners LLP lifted its position in shares of Zions Bancorp by 2.5% in the third quarter. Sarasin & Partners LLP now owns 1,404,307 shares of the bank’s stock worth $70,426,000 after purchasing an additional 34,373 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Zions Bancorp by 5.4% in the third quarter. American International Group Inc. now owns 70,398 shares of the bank’s stock worth $3,530,000 after purchasing an additional 3,618 shares in the last quarter. Institutional investors own 94.75% of the company’s stock.
In other Zions Bancorp news, insider A Scott Anderson sold 12,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $47.30, for a total value of $567,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander Hume sold 4,046 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $54.51, for a total transaction of $220,547.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,965 shares of company stock valued at $1,230,717. Corporate insiders own 1.60% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Tuesday, November 13th. Zions Bancorp’s payout ratio is 41.96%.
Zions Bancorp Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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 services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
Further Reading: Institutional Investors
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