Several other analysts also recently issued reports on ZION. 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. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $46.00 price target on shares of Zions Bancorporation in a research note on Friday, July 14th. FIG Partners reissued an “outperform” rating and issued a $54.00 price target (up previously from $50.00) on shares of Zions Bancorporation in a research note on Wednesday. BidaskClub downgraded Zions Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, 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. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. Zions Bancorporation presently has an average rating of “Hold” and a consensus target price of $43.55.
Zions Bancorporation (NASDAQ:ZION) – Equities research analysts at DA Davidson lifted their Q3 2017 earnings per share estimates for shares of Zions Bancorporation in a report released on Wednesday. DA Davidson analyst G. Tenner now anticipates that the bank will earn $0.70 per share for the quarter, up from their prior forecast of $0.65. DA Davidson also issued estimates for Zions Bancorporation’s Q4 2017 earnings at $0.71 EPS, FY2017 earnings at $2.76 EPS and FY2018 earnings at $2.98 EPS.
Zions Bancorporation (NASDAQ ZION) opened at 45.26 on Friday. The company’s 50-day moving average price is $43.81 and its 200-day moving average price is $42.58. The company has a market capitalization of $9.17 billion, a P/E ratio of 20.38 and a beta of 1.44. Zions Bancorporation has a 52 week low of $25.78 and a 52 week high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.11. The firm had revenue of $660 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 in the prior year, the business earned $0.44 EPS.
Zions Bancorporation announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to buyback $465.00 million in shares. This buyback authorization permits the bank to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.08. Zions Bancorporation’s payout ratio is 12.75%.
In other Zions Bancorporation news, insider David E. Blackford sold 942 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $40.44, for a total transaction of $38,094.48. Following the transaction, the insider now owns 29,415 shares of the company’s stock, valued at $1,189,542.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Leeanne B. Linderman sold 29,078 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $41.00, for a total value of $1,192,198.00. Following the transaction, the insider now directly owns 15,746 shares in the company, valued at approximately $645,586. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,184 shares of company stock worth $1,880,815. Company insiders own 1.46% of the company’s stock.
Large investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Zions Bancorporation by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock worth $127,000 after buying an additional 2,335 shares in the last quarter. Exane Derivatives purchased a new stake in shares of Zions Bancorporation during the second quarter worth about $132,000. Segantii Capital Management Ltd purchased a new stake in shares of Zions Bancorporation during the first quarter worth about $151,000. Cypress Capital Management LLC WY purchased a new stake in shares of Zions Bancorporation during the first quarter worth about $169,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Zions Bancorporation during the first quarter worth about $188,000. Institutional investors own 94.65% of the company’s stock.
Zions Bancorporation 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.