Trading Report: The FY2016 EPS Estimates for Zions Bancorp (ZION) Boosted by Jefferies Group

The FY2016 EPS Estimates for Zions Bancorp (ZION) Boosted by Jefferies Group

Zions Bancorp (NASDAQ:ZION) – Equities research analysts at Jefferies Group increased their FY2016 earnings per share estimates for shares of Zions Bancorp in a report released on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the firm will earn $1.94 per share for the year, up from their prior estimate of $1.93. Jefferies Group has a “Hold” rating and a $31.00 price target on the stock.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Zions Bancorp had a net margin of 16.37% and a return on equity of 5.62%. During the same period in the previous year, the company earned $0.41 earnings per share.

A number of other research analysts have also issued reports on the stock. Barclays PLC upped their target price on shares of Zions Bancorp from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank AG upped their target price on shares of Zions Bancorp from $30.00 to $35.00 and gave the company a “hold” rating in a report on Tuesday. FBR & Co lowered shares of Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Tuesday. Piper Jaffray Cos. lowered shares of Zions Bancorp from an “overweight” rating to a “neutral” rating and upped their target price for the company from $30.00 to $32.00 in a report on Monday. Finally, Raymond James Financial Inc. lowered shares of Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Thursday, October 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $32.60.

Shares of Zions Bancorp (NASDAQ:ZION) traded up 1.58% on Friday, hitting $30.84. 1,225,177 shares of the company were exchanged. Zions Bancorp has a 52-week low of $19.65 and a 52-week high of $32.15. The firm has a market cap of $6.33 billion, a P/E ratio of 18.59 and a beta of 1.54. The company has a 50-day moving average price of $30.60 and a 200 day moving average price of $27.64.

Large investors have recently bought and sold shares of the stock. AXA bought a new stake in Zions Bancorp during the first quarter worth about $12,558,000. Pictet Asset Management Ltd. boosted its stake in Zions Bancorp by 21.4% in the first quarter. Pictet Asset Management Ltd. now owns 38,079 shares of the company’s stock worth $812,000 after buying an additional 6,700 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Zions Bancorp by 47.4% in the first quarter. Rafferty Asset Management LLC now owns 27,517 shares of the company’s stock worth $666,000 after buying an additional 8,846 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Zions Bancorp by 109.3% in the first quarter. JPMorgan Chase & Co. now owns 5,031,900 shares of the company’s stock worth $121,823,000 after buying an additional 2,628,142 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

In other Zions Bancorp news, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.97, for a total value of $251,730.00. Following the sale, the executive vice president now directly owns 44,072 shares in the company, valued at $1,232,693.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David E. Blackford sold 1,620 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.81, for a total value of $45,052.20. Following the completion of the sale, the insider now owns 29,429 shares in the company, valued at $818,420.49. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by company insiders.

Zions Bancorp Company Profile

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