The DA Davidson Comments on Zions Bancorporation’s Q3 2017 Earnings (ZION)

The DA Davidson Comments on Zions Bancorporation’s Q3 2017 Earnings (ZION)

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.

Related posts

Leave a Comment