Q3 2019 Earnings Forecast for Zions Bancorporation NA Issued By B. Riley (ZION)
Zions Bancorporation NA (NASDAQ:ZION) – Analysts at B. Riley cut their Q3 2019 earnings per share estimates for shares of Zions Bancorporation NA in a note issued to investors on Wednesday, April 10th. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $1.15 per share for the quarter, down from their previous estimate of $1.16. B. Riley also issued estimates for Zions Bancorporation NA’s Q4 2019 earnings at $1.14 EPS, Q1 2020 earnings at $1.15 EPS, Q2 2020 earnings at $1.18 EPS, Q3 2020 earnings at $1.26 EPS, Q4 2020 earnings at $1.25 EPS and FY2020 earnings at $4.85 EPS.
Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $712.48 million. During the same quarter in the prior year, the company posted $0.80 EPS.
Shares of Zions Bancorporation NA stock opened at $47.65 on Monday. Zions Bancorporation NA has a fifty-two week low of $38.08 and a fifty-two week high of $59.19. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91.
In related news, EVP Terry Alan Shirey sold 493 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $50.80, for a total value of $25,044.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 31,225 shares of company stock worth $1,537,180 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ZION. Smith Asset Management Group LP purchased a new position in shares of Zions Bancorporation NA in the 4th quarter worth $27,000. CSat Investment Advisory L.P. increased 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 valued at $31,000 after purchasing an additional 373 shares in the last quarter. Doyle Wealth Management acquired a new stake in Zions Bancorporation NA in the 4th quarter valued at $33,000. Pinnacle Bank acquired a new stake in Zions Bancorporation NA in the 4th quarter valued at $33,000. Finally, JOYN Advisors Inc. increased its holdings in Zions Bancorporation NA by 2,100.0% in the 4th quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock valued at $34,000 after purchasing an additional 798 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.
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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