FY2016 EPS Estimates for Zions Bancorp Lifted by Jefferies Group (ZION)
Zions Bancorp (NASDAQ:ZION) – Jefferies Group boosted their FY2016 earnings per share estimates for shares of Zions Bancorp in a report released on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the firm will earn $1.94 per share for the year, up from their previous estimate of $1.93. Jefferies Group currently has a “Hold” rating and a $31.00 target price on the stock.
ZION has been the topic of several other reports. Bank of America Corp. downgraded Zions Bancorp from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Raymond James Financial Inc. cut Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 6th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday, August 4th. Credit Suisse Group AG restated an “outperform” rating on shares of Zions Bancorp in a research report on Thursday, August 18th. Finally, FBR & Co lowered their price objective on Zions Bancorp from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.86 on Friday. The company has a market capitalization of $6.33 billion, a PE ratio of 18.60 and a beta of 1.54. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $32.15. The firm has a 50-day moving average price of $30.65 and a 200-day moving average price of $27.68.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 EPS.
In other Zions Bancorp news, insider David E. Blackford sold 1,620 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.81, for a total value of $45,052.20. Following the completion of the sale, the insider now directly owns 29,429 shares in the company, valued at $818,420.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Keith D. Maio sold 9,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.97, for a total value of $251,730.00. Following the completion of the sale, the executive vice president now owns 44,072 shares of the company’s stock, valued at $1,232,693.84. The disclosure for this sale can be found here. 2.06% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in ZION. Aperio Group LLC increased its stake 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 valued at $1,923,000 after buying an additional 44,447 shares during the period. Nisa Investment Advisors L.L.C. increased its stake 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 valued at $1,433,000 after buying an additional 7,200 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Zions Bancorp during the first quarter valued at about $407,000. Ngam Advisors L.P. increased its stake 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 valued at $334,000 after buying an additional 755 shares during the period. Finally, Prudential Financial Inc. increased its stake 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 valued at $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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