Zions Bancorp (NASDAQ:ZION) – Stock analysts at Piper Jaffray Companies increased their FY2018 earnings estimates for shares of Zions Bancorp in a research note issued on Monday, January 7th. Piper Jaffray Companies analyst K. Barker now expects that the bank will post earnings of $4.09 per share for the year, up from their prior forecast of $4.05. Piper Jaffray Companies has a “Overweight” rating and a $57.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Zions Bancorp’s Q4 2018 earnings at $1.06 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $1.07 EPS, Q3 2020 earnings at $1.17 EPS and Q4 2020 earnings at $1.23 EPS.
A number of other analysts have also commented on ZION. Morgan Stanley decreased their price objective on Zions Bancorp from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, September 18th. BidaskClub lowered Zions Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, September 20th. ValuEngine lowered Zions Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Robert W. Baird raised Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $49.00 price objective for the company in a report on Tuesday, October 23rd. Finally, SunTrust Banks boosted their target price on Zions Bancorp to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Zions Bancorp presently has an average rating of “Hold” and a consensus price target of $57.76.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $699.87 million. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. During the same period in the previous year, the company posted $0.72 EPS.
In related news, insider Leeanne B. Linderman sold 5,878 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $50.26, for a total value of $295,428.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider A Scott Anderson sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $47.30, for a total value of $567,600.00. The disclosure for this sale can be found here. Insiders sold a total of 24,259 shares of company stock worth $1,170,272 in the last 90 days. Company insiders own 1.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. National Pension Service purchased a new position in Zions Bancorp in the third quarter valued at approximately $134,000. NumerixS Investment Technologies Inc purchased a new position in Zions Bancorp in the second quarter valued at approximately $158,000. Huntington National Bank lifted its stake in Zions Bancorp by 2,443.4% in the third quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,152 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Zions Bancorp by 1,637.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock valued at $183,000 after purchasing an additional 3,275 shares during the last quarter. Finally, First Personal Financial Services purchased a new position in Zions Bancorp in the third quarter valued at approximately $191,000. Institutional investors and hedge funds own 94.25% of the company’s stock.
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.
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