Zions Bancorp (NASDAQ:ZION) – Piper Jaffray Companies lifted their FY2018 earnings per share estimates for Zions Bancorp in a report released on Sunday, October 28th. Piper Jaffray Companies analyst K. Barker now expects that the bank will post earnings of $4.05 per share for the year, up from their previous estimate of $3.91.
Several other equities research analysts have also recently commented on the stock. UBS Group cut shares of Zions Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, September 7th. BidaskClub cut shares of Zions Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Morgan Stanley cut their price objective on shares of Zions Bancorp from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 18th. Raymond James raised shares of Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. Finally, Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Zions Bancorp has an average rating of “Hold” and a consensus target price of $58.19.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. The business had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $699.87 million. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. During the same period in the previous year, the firm posted $0.72 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 13th. This represents a $1.20 annualized dividend and a yield of 2.56%. Zions Bancorp’s dividend payout ratio (DPR) is presently 41.96%.
In other Zions Bancorp news, insider Leeanne B. Linderman sold 5,000 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $48.10, for a total transaction of $240,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alexander Hume sold 4,046 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $54.51, for a total transaction of $220,547.46. The disclosure for this sale can be found here. Insiders have sold a total of 22,951 shares of company stock worth $1,206,699 over the last three months. Insiders own 1.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ZION. LPL Financial LLC increased its stake in shares of Zions Bancorp by 126.3% during the 1st quarter. LPL Financial LLC now owns 25,327 shares of the bank’s stock worth $1,336,000 after purchasing an additional 14,135 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in shares of Zions Bancorp during the 2nd quarter worth about $285,000. State of Alaska Department of Revenue increased its stake in shares of Zions Bancorp by 43.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 56,750 shares of the bank’s stock worth $2,988,000 after purchasing an additional 17,230 shares during the last quarter. Trust Co acquired a new position in shares of Zions Bancorp during the 1st quarter worth about $313,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Zions Bancorp during the 2nd quarter worth about $295,000. Institutional investors own 94.73% of the company’s stock.
Zions Bancorp Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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 services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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