Zions Bancorp (ZION) Given New $35.00 Price Target at Deutsche Bank AG
Several other equities research analysts have also commented on the stock. FBR & Co lowered shares of Zions Bancorp from an outperform rating to a market perform rating and set a $32.00 price target 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 increased their target price for the stock from $30.00 to $32.00 in a research note on Monday. Raymond James Financial Inc. lowered shares of Zions Bancorp from a strong-buy rating to a market perform rating in a research note on Thursday, October 6th. Zacks Investment Research raised shares of Zions Bancorp from a hold rating to a buy rating and set a $35.00 target price on the stock in a research note on Monday, October 3rd. Finally, Credit Agricole SA increased their target price on shares of Zions Bancorp from $33.00 to $36.00 and gave the stock a buy rating in a research note on Friday, September 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $32.60.
Zions Bancorp (NASDAQ:ZION) traded up 0.38% on Tuesday, reaching $31.42. The company’s stock had a trading volume of 364,473 shares. The firm has a 50-day moving average of $30.52 and a 200-day moving average of $27.59. The company has a market capitalization of $6.44 billion, a PE ratio of 18.94 and a beta of 1.54. Zions Bancorp has a one year low of $19.65 and a one year high of $32.15.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate 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 last year, the business earned $0.41 EPS. Analysts predict that Zions Bancorp will post $1.85 EPS for the current year.
In other Zions Bancorp news, insider Mark Richard Young sold 65,000 shares of Zions Bancorp 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 in the company, valued at $1,165,396.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Keith D. Maio sold 9,000 shares of Zions Bancorp stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.97, for a total transaction of $251,730.00. Following the transaction, the executive vice president now owns 44,072 shares of the company’s stock, valued at approximately $1,232,693.84. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Aperio Group LLC boosted its position in shares of Zions Bancorp by 127.0% in the first quarter. Aperio Group LLC now owns 79,436 shares of the company’s stock worth $1,923,000 after buying an additional 44,447 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in Zions Bancorp by 13.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 59,197 shares of the company’s stock worth $1,433,000 after buying an additional 7,200 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Zions Bancorp during the first quarter worth $407,000. Ngam Advisors L.P. raised its position in Zions Bancorp by 5.8% in the first quarter. Ngam Advisors L.P. now owns 13,776 shares of the company’s stock worth $334,000 after buying an additional 755 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Zions Bancorp by 30.9% in the first quarter. Prudential Financial Inc. now owns 327,109 shares of the company’s stock worth $7,919,000 after buying an additional 77,300 shares in the last quarter. Institutional investors 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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