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.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.