Zions Bancorporation (NASDAQ:ZION) – Equities researchers at Piper Jaffray upped their Q2 2018 earnings per share (EPS) estimates for shares of Zions Bancorporation in a research report issued to clients and investors on Monday, April 23rd. Piper Jaffray analyst K. Barker now forecasts that the bank will post earnings of $0.87 per share for the quarter, up from their previous forecast of $0.85. Piper Jaffray has a “Hold” rating on the stock. Piper Jaffray also issued estimates for Zions Bancorporation’s Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.99 EPS, Q1 2019 earnings at $0.88 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.02 EPS, Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $3.98 EPS.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 23rd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.27. Zions Bancorporation had a return on equity of 9.04% and a net margin of 21.58%. The firm had revenue of $680.00 million during the quarter, compared to analyst estimates of $666.12 million. During the same quarter in the previous year, the company posted $0.61 earnings per share.
Shares of ZION stock opened at $55.09 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. Zions Bancorporation has a 12-month low of $38.43 and a 12-month high of $57.29. The stock has a market cap of $10,572.47, a price-to-earnings ratio of 19.26, a PEG ratio of 1.58 and a beta of 1.38.
In related news, insider Steven Dan Stephens sold 7,100 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $54.87, for a total transaction of $389,577.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Thomas E. Laursen sold 1,250 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,224 shares of company stock worth $3,156,817. 1.46% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in ZION. Renaissance Technologies LLC increased its holdings in Zions Bancorporation by 11,174.3% during the 4th quarter. Renaissance Technologies LLC now owns 484,795 shares of the bank’s stock valued at $24,642,000 after purchasing an additional 480,495 shares during the period. Key Square Capital Management LLC purchased a new position in Zions Bancorporation during the 4th quarter valued at about $18,697,000. Amundi Pioneer Asset Management Inc. purchased a new position in Zions Bancorporation during the 4th quarter valued at about $10,979,000. Hudson Bay Capital Management LP purchased a new position in Zions Bancorporation during the 4th quarter valued at about $7,255,000. Finally, OppenheimerFunds Inc. increased its holdings in Zions Bancorporation by 9.2% during the 4th quarter. OppenheimerFunds Inc. now owns 1,632,932 shares of the bank’s stock valued at $83,002,000 after purchasing an additional 137,668 shares during the period. Institutional investors own 95.18% of the company’s stock.
Zions Bancorporation Company Profile
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
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