Jefferies Group Research Analysts Lower Earnings Estimates for Zions Bancorp (ZION)
Zions Bancorp (NASDAQ:ZION) – Analysts at Jefferies Group dropped their Q4 2016 earnings per share estimates for shares of Zions Bancorp in a research note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the brokerage will earn $0.54 per share for the quarter, down from their prior estimate of $0.57. Jefferies Group currently has a “Hold” rating and a $31.00 target price on the stock. Jefferies Group also issued estimates for Zions Bancorp’s Q1 2017 earnings at $0.47 EPS, Q2 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.62 EPS, Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.29 EPS and FY2018 earnings at $2.69 EPS.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same period in the previous year, the business earned $0.41 earnings per share.
ZION has been the topic of a number of other research reports. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, August 4th. Raymond James Financial Inc. cut Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 6th. Barclays PLC set a $31.00 price target on Zions Bancorp and gave the company a “buy” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Zions Bancorp in a research note on Saturday, July 9th. Finally, Vetr upgraded Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target on the stock in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. Zions Bancorp has a consensus rating of “Hold” and a consensus price target of $32.60.
Zions Bancorp (NASDAQ:ZION) opened at 30.36 on Thursday. The company has a market capitalization of $6.23 billion, a PE ratio of 18.30 and a beta of 1.54. The company has a 50 day moving average price of $30.60 and a 200-day moving average price of $27.64. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15.
In other news, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.97, for a total transaction of $251,730.00. Following the completion of the transaction, the executive vice president now directly owns 44,072 shares in the company, valued at $1,232,693.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Richard Young sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total value of $1,346,800.00. Following the transaction, the insider now owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The disclosure for this sale can be found here. 2.06% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of ZION. Aperio Group LLC increased its position in shares of Zions Bancorp by 127.0% in the first quarter. Aperio Group LLC now owns 79,436 shares of the company’s stock worth $1,923,000 after buying an additional 44,447 shares during the period. Nisa Investment Advisors L.L.C. increased its position in shares of Zions Bancorp by 13.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 59,197 shares of the company’s stock worth $1,433,000 after buying an additional 7,200 shares during the period. Pacad Investment Ltd. bought a new position in shares of Zions Bancorp during the first quarter worth about $407,000. Ngam Advisors L.P. increased its position in shares of Zions Bancorp by 5.8% in the first quarter. Ngam Advisors L.P. now owns 13,776 shares of the company’s stock worth $334,000 after buying an additional 755 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Zions Bancorp by 30.9% in the first quarter. Prudential Financial Inc. now owns 327,109 shares of the company’s stock worth $7,919,000 after buying an additional 77,300 shares during the period. Institutional investors own 87.36% of the company’s stock.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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