Equities Analysts Set Expectations for Zions Bancorp’s FY2018 Earnings (ZION)

Zions Bancorp (NASDAQ:ZION) – Equities researchers at B. Riley cut their FY2018 earnings estimates for Zions Bancorp in a research note issued to investors on Tuesday, January 8th. B. Riley analyst S. Moss now expects that the bank will earn $4.08 per share for the year, down from their previous estimate of $4.10. B. Riley also issued estimates for Zions Bancorp’s Q4 2018 earnings at $1.05 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.12 EPS, FY2019 earnings at $4.30 EPS, Q2 2020 earnings at $1.19 EPS and Q3 2020 earnings at $1.25 EPS.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate 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 prior year, the company posted $0.72 earnings per share.

Other equities research analysts also recently issued reports about the stock. Raymond James increased their price objective on shares of Zions Bancorp from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, October 24th. Deutsche Bank reduced their price target on shares of Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. SunTrust Banks raised their price target on shares of Zions Bancorp to $52.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Finally, Argus started coverage on shares of Zions Bancorp in a research note on Monday, December 17th. They issued a “buy” rating and a $51.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.76.

Shares of Zions Bancorp stock opened at $43.99 on Thursday. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.19 and a beta of 1.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82. Zions Bancorp has a 12-month low of $38.08 and a 12-month high of $59.19.

Large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA boosted its position in Zions Bancorp by 190.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 144,345 shares of the bank’s stock worth $7,605,000 after buying an additional 94,667 shares during the period. HWG Holdings LP boosted its position in Zions Bancorp by 9.0% during the 2nd quarter. HWG Holdings LP now owns 47,909 shares of the bank’s stock worth $2,524,000 after buying an additional 3,966 shares during the period. Envestnet Asset Management Inc. raised its holdings in Zions Bancorp by 101.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,525 shares of the bank’s stock worth $2,083,000 after purchasing an additional 19,928 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in Zions Bancorp by 1.8% during the 3rd quarter. Douglas Lane & Associates LLC now owns 239,912 shares of the bank’s stock worth $12,032,000 after purchasing an additional 4,214 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in Zions Bancorp by 9.7% during the 2nd quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock worth $799,000 after purchasing an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.

In related news, General Counsel Thomas E. Laursen sold 1,381 shares of Zions Bancorp stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $48.33, for a total transaction of $66,743.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider A Scott Anderson sold 12,000 shares of Zions Bancorp stock in a transaction that occurred on Thursday, November 1st. The stock was 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. Over the last 90 days, insiders sold 24,259 shares of company stock worth $1,170,272. 1.60% of the stock is currently owned by corporate insiders.

About Zions Bancorp

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

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