FY2018 EPS Estimates for Zions Bancorp Increased by Analyst (ZION)
Zions Bancorp (NASDAQ:ZION) – Investment analysts at B. Riley increased their FY2018 earnings per share (EPS) estimates for shares of Zions Bancorp in a report issued on Thursday. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $3.80 for the year, up from their previous forecast of $3.25. B. Riley has a “Buy” rating and a $54.00 price objective on the stock. B. Riley also issued estimates for Zions Bancorp’s FY2019 earnings at $4.25 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. During the same quarter in the prior year, the business posted $0.57 earnings per share.
Zions Bancorp (NASDAQ ZION) traded up $0.17 during mid-day trading on Monday, hitting $53.28. 1,634,400 shares of the company traded hands, compared to its average volume of 1,970,800. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $10,570.00, a PE ratio of 19.96, a P/E/G ratio of 1.62 and a beta of 1.48. Zions Bancorp has a twelve month low of $38.43 and a twelve month high of $53.77.
Several large investors have recently added to or reduced their stakes in ZION. Balyasny Asset Management LLC increased its position in Zions Bancorp by 705.8% during the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after acquiring an additional 2,791,044 shares during the period. Ameriprise Financial Inc. increased its position in Zions Bancorp by 146.8% during the third quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock worth $127,330,000 after acquiring an additional 1,605,540 shares during the period. Artemis Investment Management LLP increased its position in Zions Bancorp by 332.1% during the third quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock worth $82,635,000 after acquiring an additional 1,346,240 shares during the period. Cramer Rosenthal Mcglynn LLC increased its position in Zions Bancorp by 276.0% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock worth $80,080,000 after acquiring an additional 1,338,748 shares during the period. Finally, Janus Henderson Group PLC increased its position in Zions Bancorp by 16,303.3% during the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock worth $54,056,000 after acquiring an additional 1,223,566 shares during the period. 92.53% of the stock is currently owned by institutional investors.
In other news, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total value of $1,086,755.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bruce K. Alexander sold 6,089 shares of Zions Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total transaction of $292,089.33. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock worth $2,057,927. Insiders own 1.46% of the company’s stock.
About Zions Bancorp
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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