SunTrust Banks Research Analysts Decrease Earnings Estimates for Zions Bancorp (ZION)

Zions Bancorp (NASDAQ:ZION) – Research analysts at SunTrust Banks decreased their FY2017 EPS estimates for shares of Zions Bancorp in a research report issued on Monday. SunTrust Banks analyst J. Demba now expects that the bank will post earnings per share of $2.88 for the year, down from their previous estimate of $2.91. SunTrust Banks also issued estimates for Zions Bancorp’s Q4 2017 earnings at $0.71 EPS, FY2018 earnings at $3.78 EPS and FY2019 earnings at $4.21 EPS.

Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. The business had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same quarter in the previous year, the business posted $0.57 earnings per share.

A number of other brokerages also recently weighed in on ZION. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $60.00 price target on shares of Zions Bancorp in a report on Friday, December 22nd. Piper Jaffray Companies reiterated a “hold” rating and set a $49.00 price target on shares of Zions Bancorp in a report on Tuesday. BidaskClub downgraded Zions Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, December 27th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Zions Bancorp in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.12.

Shares of Zions Bancorp (NASDAQ:ZION) opened at $53.11 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 1-year low of $38.43 and a 1-year high of $53.23. The firm has a market capitalization of $10,610.00, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48.

In other news, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $46.55, for a total transaction of $74,480.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph L. Reilly sold 23,271 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,979 shares of company stock worth $2,057,927 in the last three months. Insiders own 1.46% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in Zions Bancorp by 4.0% in the 3rd quarter. Wells Fargo & Company MN now owns 2,255,672 shares of the bank’s stock valued at $106,423,000 after acquiring an additional 87,108 shares in the last quarter. Korea Investment CORP lifted its position in Zions Bancorp by 13.6% in the 3rd quarter. Korea Investment CORP now owns 147,400 shares of the bank’s stock valued at $6,954,000 after acquiring an additional 17,600 shares in the last quarter. TCW Group Inc. lifted its position in Zions Bancorp by 1.0% in the 3rd quarter. TCW Group Inc. now owns 2,953,568 shares of the bank’s stock valued at $139,349,000 after acquiring an additional 28,685 shares in the last quarter. Janus Henderson Group PLC lifted its position in Zions Bancorp by 16,303.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock valued at $54,056,000 after acquiring an additional 1,223,566 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Zions Bancorp by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 1,002,859 shares of the bank’s stock valued at $47,317,000 after acquiring an additional 40,278 shares in the last quarter. 92.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

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