Zions Bancorp (NASDAQ:ZION) – Investment analysts at FBR & Co cut their Q1 2017 earnings per share estimates for Zions Bancorp in a research note issued on Wednesday. FBR & Co analyst P. Miller now expects that the brokerage will earn $0.46 per share for the quarter, down from their prior estimate of $0.51. FBR & Co has a “Outperform” rating and a $32.00 price objective on the stock. FBR & Co also issued estimates for Zions Bancorp’s Q3 2017 earnings at $0.59 EPS and FY2017 earnings at $2.20 EPS.
Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. During the same period in the previous year, the firm earned $0.41 earnings per share.
A number of other equities analysts have also commented on ZION. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Zions Bancorp in a research report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Zions Bancorp in a research report on Saturday, June 4th. Vetr raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, May 4th. Sanford C. Bernstein raised their target price on shares of Zions Bancorp from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Finally, Macquarie raised their target price on shares of Zions Bancorp from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $31.50.
In other Zions Bancorp news, insider Dallas E. Haun sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $25.79, for a total transaction of $64,475.00. Following the sale, the insider now directly owns 28,464 shares of the company’s stock, valued at $734,086.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $27.09, for a total transaction of $270,900.00. Following the sale, the insider now directly owns 93,756 shares in the company, valued at $2,539,850.04. The disclosure for this sale can be found here.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.08 per share. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, August 16th.
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.
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