SunTrust Banks Analysts Raise Earnings Estimates for Zions Bancorp (ZION)

Zions Bancorp (NASDAQ:ZION) – SunTrust Banks upped their Q1 2018 earnings estimates for Zions Bancorp in a research note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now anticipates that the bank will earn $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 released its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $661.00 million for 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 period in the prior year, the firm earned $0.57 EPS.

ZION has been the subject of a number of other research reports. Jefferies Group reissued a “buy” rating and set a $54.00 target price on shares of Zions Bancorp in a research report on Thursday, October 12th. Royal Bank of Canada boosted their target price on shares of Zions Bancorp from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 24th. Wells Fargo & Co reissued an “outperform” rating and set a $65.00 target price (up previously from $60.00) on shares of Zions Bancorp in a research report on Tuesday. BidaskClub lowered shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Finally, Barclays boosted their price objective on shares of Zions Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $54.28.

Zions Bancorp (NASDAQ ZION) opened at $54.17 on Tuesday. The firm has a market cap of $10,820.00, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.63 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 52-week low of $38.43 and a 52-week high of $54.88.

In related news, insider Bruce K. Alexander sold 6,089 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total value of $292,089.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock worth $2,057,927. 1.46% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of ZION. Advisors Asset Management Inc. acquired a new position in shares of Zions Bancorp during the second quarter worth approximately $108,000. Steward Partners Investment Advisory LLC lifted its position in shares of Zions Bancorp by 2,081.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after purchasing an additional 2,872 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in shares of Zions Bancorp during the second quarter worth approximately $175,000. RNC Capital Management LLC acquired a new position in shares of Zions Bancorp during the fourth quarter worth approximately $203,000. Finally, Conning Inc. acquired a new position in shares of Zions Bancorp during the third quarter worth approximately $210,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

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About Zions Bancorp

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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Earnings History and Estimates for Zions Bancorp (NASDAQ:ZION)

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