News articles about Zions Bancorporation (NASDAQ:ZION) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies negative and positive news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Zions Bancorporation earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave media coverage about the bank an impact score of 46.5226677425008 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the headlines that may have effected Accern Sentiment’s analysis:
- Brokers Set Expectations for Zions Bancorporation’s Q3 2017 Earnings (ZION) (americanbankingnews.com)
- Zions Bancorporation (ZION) Expected to Post Quarterly Sales of $666.49 Million (americanbankingnews.com)
- Zions Bancorporation To Report Third Quarter 2017 Earnings Results – PR Newswire (press release) (prnewswire.com)
- Zions Bancorporation (ZION) Expected to Post Earnings of $0.72 Per Share (americanbankingnews.com)
Shares of Zions Bancorporation (ZION) opened at 47.28 on Thursday. The company has a market cap of $9.56 billion, a PE ratio of 18.82 and a beta of 1.44. Zions Bancorporation has a 52 week low of $30.07 and a 52 week high of $48.33. The company has a 50 day moving average price of $44.88 and a 200 day moving average price of $43.05.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.11. The business had revenue of $660.00 million during the quarter, compared to the consensus estimate of $640.34 million. Zions Bancorporation had a return on equity of 8.14% and a net margin of 21.97%. During the same period last year, the company earned $0.44 earnings per share. On average, equities analysts expect that Zions Bancorporation will post $2.81 earnings per share for the current year.
Zions Bancorporation declared that its board has initiated a share buyback program on Wednesday, June 28th that permits the company to buyback $465.00 million in shares. This buyback authorization permits the bank to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
A number of brokerages recently weighed in on ZION. Zacks Investment Research raised Zions Bancorporation from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 price target on shares of Zions Bancorporation in a research note on Thursday. BMO Capital Markets reissued a “hold” rating and issued a $47.00 price target on shares of Zions Bancorporation in a research note on Thursday, July 27th. Barclays PLC reissued an “overweight” rating and issued a $50.00 price target (up previously from $48.00) on shares of Zions Bancorporation in a research note on Friday, June 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 price target on shares of Zions Bancorporation in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.95.
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In related news, insider David E. Blackford sold 9,533 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $44.94, for a total transaction of $428,413.02. Following the completion of the transaction, the insider now directly owns 22,997 shares in the company, valued at $1,033,485.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Thomas E. Laursen sold 1,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $46.38, for a total value of $46,380.00. Following the transaction, the general counsel now owns 23,484 shares of the company’s stock, valued at $1,089,187.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,118 shares of company stock valued at $1,222,407. 1.46% of the stock is owned by corporate insiders.
About Zions Bancorporation
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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