Brokerages Set Zions Bancorp (NASDAQ:ZION) PT at $32.00
Shares of Zions Bancorp (NASDAQ:ZION) have been assigned an average recommendation of “Hold” from the twenty-six ratings firms that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $32.00.
A number of brokerages recently weighed in on ZION. Vetr upgraded shares of Zions Bancorp from a “strong sell” rating to a “sell” rating and set a $29.00 price objective for the company in a report on Monday, September 5th. Credit Agricole SA lifted their price objective on shares of Zions Bancorp from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Raymond James Financial Inc. lifted their price objective on shares of Zions Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Credit Suisse Group AG lifted their price objective on shares of Zions Bancorp from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, September 20th. Finally, Susquehanna upgraded shares of Zions Bancorp from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $25.00 to $36.00 in a report on Tuesday, June 7th.
Zions Bancorp (NASDAQ:ZION) opened at 30.85 on Monday. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 18.60 and a beta of 1.64. The stock’s 50 day moving average is $29.83 and its 200 day moving average is $27.18. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $31.28.
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. Equities analysts predict that Zions Bancorp will post $1.85 earnings per share for the current fiscal year.
In other news, EVP Keith D. Maio sold 9,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the completion of the transaction, the executive vice president now owns 44,072 shares in the company, valued at approximately $1,232,693.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Richard Young sold 65,000 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the completion of the transaction, the insider now owns 56,245 shares of the company’s stock, valued at approximately $1,165,396.40. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its position in shares of 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 in the last quarter. Seven Eight Capital LLC increased its position in shares of Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock worth $155,000 after buying an additional 4,500 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Zions Bancorp during the second quarter worth about $208,000. MAI Capital Management increased its position in shares of Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Zions Bancorp during the second quarter worth about $234,000. Institutional investors and hedge funds own 87.36% of the company’s stock.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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