Zions Bancorporation NA (NASDAQ:ZION) – Investment analysts at Piper Jaffray Companies lifted their Q1 2019 earnings per share (EPS) estimates for Zions Bancorporation NA in a research note issued on Tuesday, April 9th, according to Zacks Investment Research. Piper Jaffray Companies analyst K. Barker now forecasts that the bank will post earnings per share of $1.01 for the quarter, up from their prior forecast of $0.96. Piper Jaffray Companies also issued estimates for Zions Bancorporation NA’s FY2019 earnings at $4.32 EPS, Q2 2020 earnings at $1.10 EPS and FY2020 earnings at $4.56 EPS.
A number of other brokerages have also weighed in on ZION. ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub lowered shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Vining Sparks restated a “buy” rating and issued a $63.00 price objective on shares of Zions Bancorporation NA in a report on Thursday, January 24th. JPMorgan Chase & Co. lowered shares of Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $53.00 to $50.00 in a report on Thursday, April 4th. Finally, Wedbush boosted their price objective on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.87.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 EPS for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.01). Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. The company had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $715.64 million. During the same period in the prior year, the firm earned $1.09 EPS.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.40%. Zions Bancorporation NA’s dividend payout ratio is currently 29.41%.
In related news, insider David E. Blackford sold 4,118 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $50.86, for a total transaction of $209,441.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Terry Alan Shirey sold 493 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $50.80, for a total transaction of $25,044.40. The disclosure for this sale can be found here. Insiders have sold a total of 33,242 shares of company stock valued at $1,638,616 over the last quarter. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. First Interstate Bank bought a new position in Zions Bancorporation NA in the 1st quarter worth $27,000. Buffington Mohr McNeal bought a new position in Zions Bancorporation NA in the 1st quarter worth $30,000. Smith Asset Management Group LP bought a new position in Zions Bancorporation NA in the 4th quarter worth $27,000. CSat Investment Advisory L.P. raised its holdings in 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 purchasing an additional 373 shares in the last quarter. Finally, Pinnacle Bank bought a new position in Zions Bancorporation NA in the 4th quarter worth $33,000. Institutional investors and hedge funds own 96.60% of the company’s stock.
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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