FIG Partners Brokers Increase Earnings Estimates for Zions Bancorp (ZION)
Zions Bancorp (NASDAQ:ZION) – FIG Partners upped their FY2016 earnings per share estimates for shares of Zions Bancorp in a report released on Tuesday. FIG Partners analyst T. Coffey now expects that the brokerage will post earnings per share of $1.91 for the year, up from their previous estimate of $1.83. FIG Partners also issued estimates for Zions Bancorp’s Q4 2016 earnings at $0.50 EPS, Q1 2017 earnings at $0.50 EPS, Q2 2017 earnings at $0.53 EPS and FY2017 earnings at $2.31 EPS.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Monday, October 24th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Zions Bancorp had a net margin of 17.81% and a return on equity of 6.16%. During the same period in the previous year, the business posted $0.41 earnings per share.
ZION has been the subject of several other research reports. RBC Capital Markets reiterated an “outperform” rating and issued a $40.00 target price (up previously from $32.00) on shares of Zions Bancorp in a research note on Thursday. Royal Bank Of Canada upped their target price on shares of Zions Bancorp from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods lowered shares of Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research note on Tuesday, October 25th. FBR & Co upped their target price on shares of Zions Bancorp from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 25th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $38.00 target price on shares of Zions Bancorp in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Zions Bancorp has an average rating of “Hold” and an average target price of $33.89.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 36.97 on Friday. The firm has a market cap of $7.54 billion, a PE ratio of 20.32 and a beta of 1.37. The firm has a 50-day moving average of $31.86 and a 200 day moving average of $28.74. Zions Bancorp has a 52 week low of $19.65 and a 52 week high of $37.04.
A number of hedge funds and other institutional investors have recently modified their holdings of ZION. Canada Pension Plan Investment Board boosted its position in shares of Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Zions Bancorp during the third quarter worth approximately $131,000. Jacobus Wealth Management Inc. boosted its position in shares of Zions Bancorp by 12.2% in the third quarter. Jacobus Wealth Management Inc. now owns 4,600 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Seven Eight Capital LLC boosted its position in shares of Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock worth $155,000 after buying an additional 4,500 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Zions Bancorp during the second quarter worth approximately $208,000. Institutional investors and hedge funds own 88.09% of the company’s stock.
In other Zions Bancorp news, insider Mark Richard Young sold 65,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the transaction, the insider now directly owns 56,245 shares in the company, valued at $1,165,396.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Morris sold 18,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $32.40, for a total transaction of $583,200.00. Following the transaction, the insider now owns 23,323 shares in the company, valued at $755,665.20. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, November 14th. Zions Bancorp’s payout ratio is currently 17.58%.
Zions Bancorp Company Profile
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.
Receive News & Stock Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related stocks with our FREE daily email newsletter.