Jefferies Group Comments on Zions Bancorp’s Q1 2018 Earnings (ZION)
Zions Bancorp (NASDAQ:ZION) – Jefferies Group raised their Q1 2018 earnings per share (EPS) estimates for Zions Bancorp in a report issued on Friday. Jefferies Group analyst K. Usdin now expects that the bank will post earnings of $0.80 per share for the quarter, up from their previous estimate of $0.79. Jefferies Group also issued estimates for Zions Bancorp’s Q3 2018 earnings at $0.95 EPS, Q4 2018 earnings at $0.99 EPS, FY2018 earnings at $3.60 EPS and FY2019 earnings at $3.95 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.07. The firm had revenue of $665.00 million for the quarter, compared to the consensus estimate of $670.55 million. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. During the same period in the prior year, the business posted $0.60 earnings per share.
Zions Bancorp (NASDAQ:ZION) opened at $54.97 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The company has a market cap of $10,980.00, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45. Zions Bancorp has a 1 year low of $38.43 and a 1 year high of $55.61.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Zions Bancorp by 0.9% during the fourth quarter. BlackRock Inc. now owns 13,421,671 shares of the bank’s stock worth $682,222,000 after purchasing an additional 115,554 shares during the period. American Century Companies Inc. lifted its stake in Zions Bancorp by 2.2% during the fourth quarter. American Century Companies Inc. now owns 6,301,387 shares of the bank’s stock worth $320,300,000 after purchasing an additional 136,198 shares during the period. Thrivent Financial For Lutherans lifted its stake in Zions Bancorp by 2.0% during the fourth quarter. Thrivent Financial For Lutherans now owns 4,419,086 shares of the bank’s stock worth $224,623,000 after purchasing an additional 87,684 shares during the period. TIAA CREF Investment Management LLC lifted its stake in Zions Bancorp by 1.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 3,412,016 shares of the bank’s stock worth $173,433,000 after purchasing an additional 59,927 shares during the period. Finally, Cortland Advisers LLC lifted its stake in Zions Bancorp by 49.6% during the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock worth $150,006,000 after purchasing an additional 1,053,900 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.
In related news, insider Dianne R. James sold 1,500 shares of Zions Bancorp stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $54.25, for a total transaction of $81,375.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruce K. Alexander sold 6,089 shares of Zions Bancorp stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total value of $292,089.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,750 shares of company stock worth $1,115,242. 1.46% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. Zions Bancorp’s dividend payout ratio (DPR) is 30.53%.
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About Zions Bancorp
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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