Zions Bancorp (NASDAQ:ZION) announced its quarterly earnings results on Tuesday. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02, RTT News reports. Zions Bancorp had a net margin of 26.57% and a return on equity of 11.84%. During the same period last year, the firm posted $0.80 EPS.
Shares of NASDAQ:ZION traded down $0.52 on Tuesday, hitting $46.53. The stock had a trading volume of 4,301,085 shares, compared to its average volume of 2,717,121. Zions Bancorp has a twelve month low of $38.08 and a twelve month high of $59.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $9.04 billion, a PE ratio of 16.27, a P/E/G ratio of 0.98 and a beta of 1.43.
Several equities research analysts have issued reports on ZION shares. Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, October 24th. Robert W. Baird raised shares of Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $49.00 price target on the stock in a report on Tuesday, October 23rd. Raymond James lowered their price target on shares of Zions Bancorp from $62.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Deutsche Bank lowered their price target on shares of Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Finally, ValuEngine raised shares of Zions Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. Zions Bancorp has an average rating of “Hold” and an average price target of $57.76.
In other news, General Counsel Thomas E. Laursen sold 1,381 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $48.33, for a total value of $66,743.73. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider A Scott Anderson sold 12,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $47.30, for a total transaction of $567,600.00. The disclosure for this sale can be found here. Insiders sold a total of 19,259 shares of company stock worth $929,772 in the last 90 days. 1.60% of the stock is owned by corporate insiders.
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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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