Zions Bancorporation NA to Post FY2019 Earnings of $4.34 Per Share, Piper Jaffray Companies Forecasts (ZION)

Zions Bancorporation NA (NASDAQ:ZION) – Piper Jaffray Companies dropped their FY2019 EPS estimates for shares of Zions Bancorporation NA in a report released on Tuesday, May 21st. Piper Jaffray Companies analyst K. Barker now expects that the bank will post earnings of $4.34 per share for the year, down from their prior forecast of $4.36. Piper Jaffray Companies also issued estimates for Zions Bancorporation NA’s Q4 2019 earnings at $1.13 EPS, Q2 2020 earnings at $1.10 EPS, Q3 2020 earnings at $1.20 EPS and FY2020 earnings at $4.54 EPS.

Zions Bancorporation NA (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $715.64 million. Zions Bancorporation NA had a net margin of 27.58% and a return on equity of 12.24%. During the same period in the previous year, the company earned $1.09 earnings per share.

ZION has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Thursday, April 4th. BidaskClub raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Vining Sparks reaffirmed a “buy” rating and set a $63.00 price target on shares of Zions Bancorporation NA in a report on Thursday, January 24th. Finally, ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $54.87.

Shares of NASDAQ:ZION opened at $44.93 on Friday. The firm has a market cap of $8.36 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation NA has a 1 year low of $38.08 and a 1 year high of $58.13.

A number of institutional investors have recently made changes to their positions in the stock. ETF Managers Group LLC boosted its stake in Zions Bancorporation NA by 8.2% during the first quarter. ETF Managers Group LLC now owns 2,744 shares of the bank’s stock valued at $125,000 after buying an additional 207 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Zions Bancorporation NA by 0.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 29,218 shares of the bank’s stock valued at $1,190,000 after buying an additional 216 shares during the last quarter. Dupont Capital Management Corp boosted its stake in Zions Bancorporation NA by 1.0% during the fourth quarter. Dupont Capital Management Corp now owns 23,000 shares of the bank’s stock valued at $937,000 after buying an additional 230 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Zions Bancorporation NA by 1.5% during the first quarter. CIBC Asset Management Inc now owns 22,010 shares of the bank’s stock valued at $999,000 after buying an additional 329 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Zions Bancorporation NA by 2.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,827 shares of the bank’s stock valued at $627,000 after buying an additional 355 shares during the last quarter. 96.00% of the stock is owned by institutional investors.

In related news, insider James R. Abbott sold 1,988 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $45.83, for a total transaction of $91,110.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider A Scott Anderson sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. The disclosure for this sale can be found here. Insiders have sold 27,922 shares of company stock valued at $1,343,517 in the last quarter. 1.70% of the stock is currently owned by company insiders.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Wednesday, May 15th. Zions Bancorporation NA’s dividend payout ratio is currently 29.41%.

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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