Zions Bancorporation (NASDAQ:ZION) – Analysts at FIG Partners decreased their FY2017 earnings per share (EPS) estimates for shares of Zions Bancorporation in a report issued on Tuesday, Zacks Investment Research reports. FIG Partners analyst T. Coffey now anticipates that the bank will earn $2.83 per share for the year, down from their previous estimate of $2.85. FIG Partners currently has a “Outperform” rating and a $54.00 target price on the stock. FIG Partners also issued estimates for Zions Bancorporation’s Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.91 EPS, FY2018 earnings at $3.41 EPS and Q1 2019 earnings at $0.88 EPS.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same quarter in the prior year, the firm posted $0.57 earnings per share. ILLEGAL ACTIVITY WARNING: “FY2017 EPS Estimates for Zions Bancorporation (NASDAQ:ZION) Cut by Analyst” was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://stocknewstimes.com/2017/11/11/zions-bancorporation-to-post-fy2017-earnings-of-2-83-per-share-fig-partners-forecasts-zion.html.
Several other equities research analysts have also recently commented on the company. Royal Bank of Canada boosted their target price on Zions Bancorporation from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. BMO Capital Markets reiterated a “hold” rating and set a $47.00 price objective on shares of Zions Bancorporation in a research note on Thursday, July 27th. BidaskClub cut Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price objective on shares of Zions Bancorporation in a research note on Friday, July 14th. Finally, Robert W. Baird upgraded Zions Bancorporation from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.50.
Zions Bancorporation (ZION) traded down $0.04 during midday trading on Thursday, reaching $43.93. The company’s stock had a trading volume of 2,049,000 shares, compared to its average volume of 2,514,875. The company has a market cap of $8,782.74, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.70 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 Bancorporation has a 12-month low of $35.96 and a 12-month high of $48.33.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, November 14th. Zions Bancorporation’s dividend payout ratio is currently 18.05%.
In related news, Director Roger B. Porter bought 1,616 shares of Zions Bancorporation stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $43.99 per share, with a total value of $71,087.84. Following the acquisition, the director now owns 42,001 shares in the company, valued at approximately $1,847,623.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne R. James sold 2,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $45.60, for a total value of $91,200.00. Following the sale, the insider now directly owns 19,866 shares in the company, valued at $905,889.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,585 shares of company stock worth $747,614. Insiders own 1.46% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Advisors Asset Management Inc. acquired a new stake in shares of Zions Bancorporation during the 2nd quarter worth $108,000. Global X Management Co. LLC grew its holdings in shares of Zions Bancorporation by 340.4% during the 1st quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock worth $127,000 after purchasing an additional 2,335 shares in the last quarter. Exane Derivatives acquired a new stake in shares of Zions Bancorporation during the 2nd quarter worth $132,000. Americafirst Capital Management LLC acquired a new stake in shares of Zions Bancorporation during the 2nd quarter worth $175,000. Finally, FNY Partners Fund LP acquired a new stake in shares of Zions Bancorporation during the 1st quarter worth $188,000. 94.51% of the stock is currently owned by institutional investors.
About Zions Bancorporation
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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