Zions Bancorporation (NASDAQ:ZION) – Stock analysts at CLSA lifted their FY2017 earnings estimates for Zions Bancorporation in a note issued to investors on Tuesday. CLSA analyst C. Spahr now expects that the brokerage will post earnings of $2.35 per share for the year, up from their prior forecast of $2.30. CLSA also issued estimates for Zions Bancorporation’s FY2018 earnings at $2.85 EPS.
Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. raised Zions Bancorporation from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $34.00 to $50.00 in a research note on Thursday, January 5th. Bank of America Corp. upgraded Zions Bancorporation from an “underperform” rating to a “neutral” rating in a research report on Wednesday, December 21st. FBR & Co upgraded Zions Bancorporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $42.00 to $49.00 in a research report on Tuesday, December 20th. RBC Capital Markets reiterated a “buy” rating on shares of Zions Bancorporation in a research report on Saturday, December 17th. Finally, Zacks Investment Research upgraded Zions Bancorporation from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Friday, December 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.14.
Shares of Zions Bancorporation (NASDAQ:ZION) opened at 42.48 on Wednesday. Zions Bancorporation has a 12 month low of $19.65 and a 12 month high of $44.33. The stock has a market capitalization of $8.65 billion, a P/E ratio of 23.34 and a beta of 1.45. The stock has a 50 day moving average price of $42.71 and a 200 day moving average price of $33.50.
In related news, insider David E. Blackford sold 26,322 shares of the business’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $38.53, for a total transaction of $1,014,186.66. Following the completion of the transaction, the insider now owns 40,340 shares of the company’s stock, valued at approximately $1,554,300.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander Hume sold 11,571 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $38.53, for a total value of $445,830.63. Following the transaction, the insider now directly owns 8,270 shares of the company’s stock, valued at approximately $318,643.10. The disclosure for this sale can be found here. 2.06% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Lederer & Associates Investment Counsel CA acquired a new position in Zions Bancorporation during the fourth quarter valued at $524,000. Sheets Smith Wealth Management acquired a new position in Zions Bancorporation during the third quarter valued at $858,000. Price T Rowe Associates Inc. MD boosted its position in Zions Bancorporation by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 386,473 shares of the company’s stock valued at $11,988,000 after buying an additional 1,200 shares in the last quarter. LPL Financial LLC acquired a new position in Zions Bancorporation during the third quarter valued at $301,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in Zions Bancorporation during the third quarter valued at $11,231,000. 86.10% of the stock is owned by institutional investors and hedge funds.
Zions Bancorporation Company Profile
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.