Wedbush Comments on Zions Bancorporation NA’s Q1 2019 Earnings (ZION)

Zions Bancorporation NA (NASDAQ:ZION) – Wedbush issued their Q1 2019 earnings per share estimates for shares of Zions Bancorporation NA in a research report issued to clients and investors on Wednesday, March 27th, Zacks Investment Research reports. Wedbush analyst P. Winter forecasts that the bank will post earnings per share of $1.06 for the quarter. Wedbush currently has a “Neutral” rating and a $50.00 target price on the stock. Wedbush also issued estimates for Zions Bancorporation NA’s FY2019 earnings at $4.58 EPS and FY2020 earnings at $4.94 EPS.

Zions Bancorporation NA (NASDAQ:ZION) last announced its earnings results on Tuesday, January 22nd. The bank reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $712.48 million. During the same period in the previous year, the company posted $0.80 earnings per share.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $53.00 to $50.00 in a report on Thursday, April 4th. BidaskClub lowered Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. ValuEngine upgraded Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Argus initiated coverage on Zions Bancorporation NA in a research report on Monday, December 17th. They issued a “buy” rating and a $51.00 target price on the stock. Finally, Zacks Investment Research reiterated a “hold” rating and issued a $43.00 target price on shares of Zions Bancorporation NA in a research report on Monday, December 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.18.

Shares of ZION traded down $0.77 during mid-day trading on Monday, hitting $47.65. 1,282,034 shares of the company traded hands, compared to its average volume of 2,547,251. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $59.19. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The company has a market cap of $9.31 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.48.

In related news, insider Steven Dan Stephens sold 8,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $48.20, for a total value of $385,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Thomas E. Laursen sold 1,237 shares of the stock in a transaction on Monday, January 28th. The shares were sold at an average price of $48.47, for a total value of $59,957.39. The disclosure for this sale can be found here. Insiders have sold a total of 31,225 shares of company stock worth $1,537,180 in the last quarter. Insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Smith Asset Management Group LP acquired a new stake in shares of Zions Bancorporation NA in the 4th quarter worth $27,000. CSat Investment Advisory L.P. increased its stake in shares of Zions Bancorporation NA by 97.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock worth $31,000 after acquiring an additional 373 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of Zions Bancorporation NA in the 4th quarter worth $33,000. Doyle Wealth Management acquired a new stake in shares of Zions Bancorporation NA in the 4th quarter worth $33,000. Finally, JOYN Advisors Inc. increased its stake in shares of Zions Bancorporation NA by 2,100.0% in the 4th quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock worth $34,000 after acquiring an additional 798 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation NA Company Profile

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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 services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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Earnings History and Estimates for Zions Bancorporation NA (NASDAQ:ZION)

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