Zions Bancorp (ZION) Price Target Raised to $36.00 at Barclays PLC
Several other research analysts also recently weighed in on the stock. 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 research note on Tuesday. FBR & Co downgraded shares of Zions Bancorp from an outperform rating to a market perform rating and set a $32.00 target price for the company. in a research note on Tuesday. Piper Jaffray Cos. downgraded shares of Zions Bancorp from an overweight rating to a neutral rating and increased their price objective for the company from $30.00 to $32.00 in a research note on Monday. Raymond James Financial Inc. downgraded shares of Zions Bancorp from a strong-buy rating to a market perform rating in a research note on Thursday, October 6th. Finally, Zacks Investment Research upgraded shares of Zions Bancorp from a hold rating to a buy rating and set a $35.00 price objective on the stock in a research note on Monday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $32.60.
Zions Bancorp (NASDAQ:ZION) traded up 0.38% during midday trading on Tuesday, reaching $31.42. 364,473 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $30.52 and its 200-day moving average price is $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 1-year low of $19.65 and a 1-year high of $32.15.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share 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 in the prior year, the firm earned $0.41 earnings per share. Equities analysts expect that Zions Bancorp will post $1.85 EPS for the current year.
In other news, EVP Keith D. Maio sold 9,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David E. Blackford sold 1,620 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.81, for a total transaction of $45,052.20. Following the completion of the sale, the insider now owns 29,429 shares in the company, valued at approximately $818,420.49. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its stake in shares of Zions Bancorp by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 20,924 shares of the company’s stock valued at $649,000 after buying an additional 110 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of Zions Bancorp by 21.9% in the third quarter. First Mercantile Trust Co. now owns 41,630 shares of the company’s stock valued at $1,292,000 after buying an additional 7,480 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Zions Bancorp during the second quarter valued at approximately $208,000. Kentucky Retirement Systems purchased a new stake in shares of Zions Bancorp during the second quarter valued at approximately $437,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Zions Bancorp during the second quarter valued at approximately $693,000. Institutional investors own 87.36% of the company’s stock.
Zions Bancorp Company Profile
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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