Zions Bancorp (ZION) Expected to Post FY2018 Earnings of $3.98 Per Share

Zions Bancorp (NASDAQ:ZION) – Equities researchers at Jefferies Financial Group boosted their FY2018 earnings estimates for Zions Bancorp in a report released on Monday, October 8th. Jefferies Financial Group analyst K. Usdin now expects that the bank will earn $3.98 per share for the year, up from their prior forecast of $3.95. Jefferies Financial Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Financial Group also issued estimates for Zions Bancorp’s FY2020 earnings at $4.45 EPS.

Several other research analysts also recently weighed in on ZION. BidaskClub downgraded shares of Zions Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Raymond James upgraded shares of Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. Barclays increased their price target on shares of Zions Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 price target on shares of Zions Bancorp in a research report on Thursday, July 12th. Finally, Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.58.

ZION opened at $52.09 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. Zions Bancorp has a 1-year low of $43.50 and a 1-year high of $59.19. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40.

Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 23rd. The bank reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.03). Zions Bancorp had a return on equity of 10.86% and a net margin of 25.03%. The business had revenue of $686.00 million during the quarter, compared to the consensus estimate of $687.26 million. During the same quarter in the previous year, the business posted $0.73 earnings per share.

Hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in Zions Bancorp by 3.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 29,702 shares of the bank’s stock valued at $1,567,000 after acquiring an additional 933 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Zions Bancorp by 6.1% during the first quarter. Xact Kapitalforvaltning AB now owns 19,895 shares of the bank’s stock valued at $1,049,000 after acquiring an additional 1,148 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Zions Bancorp by 11.5% during the second quarter. Janney Montgomery Scott LLC now owns 11,794 shares of the bank’s stock valued at $621,000 after acquiring an additional 1,215 shares in the last quarter. Financial Counselors Inc. grew its stake in Zions Bancorp by 3.2% during the second quarter. Financial Counselors Inc. now owns 42,253 shares of the bank’s stock valued at $2,226,000 after acquiring an additional 1,308 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its stake in Zions Bancorp by 9.7% during the second quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock valued at $799,000 after acquiring an additional 1,338 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

In other news, General Counsel Thomas E. Laursen sold 945 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $52.73, for a total transaction of $49,829.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Leeanne B. Linderman sold 5,006 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $53.62, for a total transaction of $268,421.72. The disclosure for this sale can be found here. Insiders have sold a total of 18,896 shares of company stock worth $1,016,029 over the last 90 days. Insiders own 1.60% of the company’s stock.

Zions Bancorp Company Profile

Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.

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Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

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