FY2019 EPS Estimates for Zions Bancorporation NA (ZION) Decreased by Piper Jaffray Companies

Zions Bancorporation NA (NASDAQ:ZION) – Equities research analysts at Piper Jaffray Companies lowered their FY2019 earnings per share estimates for Zions Bancorporation NA in a research note issued to investors on Tuesday, May 21st. Piper Jaffray Companies analyst K. Barker now forecasts that the bank will post earnings of $4.34 per share for the year, down from their previous estimate 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 issued its quarterly earnings results on Monday, April 22nd. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). The company had revenue of $708.00 million during the quarter, compared to analyst estimates of $715.64 million. Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. During the same period in the prior year, the company posted $1.09 earnings per share.

A number of other brokerages have also weighed in on ZION. BidaskClub raised shares of Zions Bancorporation NA from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. ValuEngine lowered shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, JPMorgan Chase & Co. lowered shares of Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $53.00 to $50.00 in a research note on Thursday, April 4th. Two 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 company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.87.

Shares of NASDAQ:ZION opened at $45.34 on Friday. The company has a market capitalization of $8.36 billion, a PE ratio of 11.11, a P/E/G ratio of 1.15 and a beta of 1.49. Zions Bancorporation NA has a twelve month low of $38.08 and a twelve month high of $57.68. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.17.

Large investors have recently modified their holdings of the stock. Smith Asset Management Group LP purchased a new stake in shares of Zions Bancorporation NA in the 4th quarter valued at approximately $27,000. First Interstate Bank purchased a new stake in shares of Zions Bancorporation NA in the 1st quarter valued at approximately $27,000. Buffington Mohr McNeal purchased a new stake in shares of Zions Bancorporation NA in the 1st quarter valued at approximately $30,000. CSat Investment Advisory L.P. lifted its position 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 valued at $31,000 after acquiring an additional 373 shares in the last quarter. Finally, Doyle Wealth Management purchased a new stake in shares of Zions Bancorporation NA in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 96.00% of the company’s stock.

In related news, insider James R. Abbott sold 1,988 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $45.83, for a total transaction of $91,110.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider A Scott Anderson sold 10,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,922 shares of company stock valued at $1,343,517. Company insiders own 1.70% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, May 15th. Zions Bancorporation NA’s dividend payout ratio is presently 29.41%.

About Zions Bancorporation NA

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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