SunTrust Banks Weighs in on Zions Bancorp’s Q1 2018 Earnings (ZION)
Zions Bancorp (NASDAQ:ZION) – Analysts at SunTrust Banks upped their Q1 2018 earnings estimates for shares of Zions Bancorp in a research note issued on Monday. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings of $0.84 per share for the quarter, up from their previous forecast of $0.70. SunTrust Banks also issued estimates for Zions Bancorp’s Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.97 EPS and Q4 2018 earnings at $1.01 EPS.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The company had revenue of $661.00 million during 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 last year, the firm posted $0.57 earnings per share.
Shares of Zions Bancorp (ZION) opened at $50.62 on Tuesday. The stock has a market capitalization of $10,110.00, a P/E ratio of 18.96, a PEG ratio of 1.72 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 1 year low of $38.43 and a 1 year high of $52.20.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Zions Bancorp by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,054 shares of the bank’s stock worth $661,000 after purchasing an additional 39 shares during the period. Veritable L.P. increased its stake in shares of Zions Bancorp by 0.9% during the second quarter. Veritable L.P. now owns 5,775 shares of the bank’s stock worth $254,000 after purchasing an additional 50 shares during the period. OxFORD Asset Management LLP increased its stake in shares of Zions Bancorp by 0.7% during the second quarter. OxFORD Asset Management LLP now owns 19,697 shares of the bank’s stock worth $865,000 after purchasing an additional 129 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Zions Bancorp by 4.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,080 shares of the bank’s stock worth $355,000 after acquiring an additional 380 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Zions Bancorp by 12.0% during the 2nd quarter. Gotham Asset Management LLC now owns 7,003 shares of the bank’s stock worth $308,000 after acquiring an additional 750 shares during the period. Institutional investors own 92.54% of the company’s stock.
In other news, General Counsel Thomas E. Laursen sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $46.55, for a total value of $74,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of the firm’s 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,979 shares of company stock valued at $2,057,927. 1.46% of the stock is owned by corporate insiders.
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Zions Bancorp Company Profile
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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