Zions Bancorp (NASDAQ:ZION) – Investment analysts at Jefferies Group boosted their FY2018 EPS estimates for Zions Bancorp in a report issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the bank will earn $3.52 per share for the year, up from their previous estimate of $3.05. Jefferies Group currently has a “Buy” rating and a $54.00 target price on the stock. Jefferies Group also issued estimates for Zions Bancorp’s FY2019 earnings at $3.85 EPS.
Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Monday, October 23rd. The bank reported $0.72 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 analyst estimates of $666.83 million. Zions Bancorp had a net margin of 22.70% and a return on equity of 8.54%. During the same quarter last year, the company earned $0.57 earnings per share.
Shares of Zions Bancorp (ZION) traded up $1.19 during midday trading on Wednesday, hitting $51.81. 1,888,100 shares of the stock were exchanged, compared to its average volume of 2,011,600. The firm has a market capitalization of $10,570.00, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorp has a 1-year low of $38.43 and a 1-year high of $52.20.
A number of institutional investors have recently modified their holdings of ZION. Vanguard Group Inc. increased its holdings in shares of Zions Bancorp by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock valued at $932,892,000 after acquiring an additional 882,190 shares during the period. State Street Corp increased its stake in Zions Bancorp by 8.7% in the 2nd quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock valued at $543,315,000 after buying an additional 986,548 shares during the period. TIAA CREF Investment Management LLC increased its stake in Zions Bancorp by 2.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock valued at $157,651,000 after buying an additional 68,904 shares during the period. Balyasny Asset Management LLC boosted its position in shares of Zions Bancorp by 705.8% during the 2nd 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 in the last quarter. Finally, Cortland Advisers LLC boosted its position in shares of Zions Bancorp by 49.6% during the 3rd 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 in the last quarter. Institutional investors own 92.54% of the company’s stock.
In related news, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total value of $1,086,755.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Thomas E. Laursen sold 1,600 shares of Zions Bancorp stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock valued at $2,057,927. Insiders own 1.46% of the company’s stock.
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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