Zions Bancorp (NASDAQ:ZION) was downgraded by Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Wednesday. They currently have a $38.00 target price on the stock, up from their previous target price of $37.00. Sanford C. Bernstein’s price objective points to a potential upside of 0.24% from the stock’s previous close. The analysts noted that the move was a valuation call.

ZION has been the subject of a number of other reports. Vetr raised Zions Bancorp from a “strong sell” rating to a “sell” rating and set a $29.00 price target for the company in a research note on Monday, September 5th. Raymond James Financial Inc. raised their price target on Zions Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Credit Suisse Group AG raised their price target on Zions Bancorp from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 20th. FBR & Co downgraded Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research note on Tuesday, October 11th. Finally, Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Monday, October 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.53.

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

Zions Bancorp (NASDAQ:ZION) opened at 37.91 on Wednesday. Zions Bancorp has a 12 month low of $19.65 and a 12 month high of $38.88. The firm has a 50 day moving average price of $32.72 and a 200-day moving average price of $29.04. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 20.83 and a beta of 1.37.

Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 24th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. Zions Bancorp had a return on equity of 6.16% and a net margin of 17.81%. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts forecast that Zions Bancorp will post $1.92 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 16th will be given a $0.08 dividend. The ex-dividend date is Monday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.84%. Zions Bancorp’s payout ratio is 17.58%.

In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 10,000 shares of Zions Bancorp stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $32.26, for a total value of $322,600.00. Following the completion of the transaction, the general counsel now owns 29,737 shares in the company, valued at approximately $959,315.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Richard Young sold 19,893 shares of Zions Bancorp stock in a transaction on Monday, November 7th. The shares were sold at an average price of $32.27, for a total value of $641,947.11. Following the completion of the transaction, the insider now owns 27,156 shares of the company’s stock, valued at approximately $876,324.12. The disclosure for this sale can be found here. 2.06% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its stake in Zions Bancorp by 3.9% in the third quarter. Great West Life Assurance Co. Can now owns 109,583 shares of the company’s stock worth $3,395,000 after buying an additional 4,084 shares during the last quarter. Endeavour Capital Advisors Inc. increased its stake in Zions Bancorp by 32.3% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,811,553 shares of the company’s stock worth $43,858,000 after buying an additional 442,737 shares during the last quarter. Geode Capital Management LLC increased its stake in Zions Bancorp by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,757,949 shares of the company’s stock worth $42,495,000 after buying an additional 32,076 shares during the last quarter. Artemis Investment Management LLP increased its stake in Zions Bancorp by 772.6% in the second quarter. Artemis Investment Management LLP now owns 4,122,053 shares of the company’s stock worth $103,567,000 after buying an additional 3,649,671 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Zions Bancorp by 0.5% in the first quarter. Legal & General Group Plc now owns 785,452 shares of the company’s stock worth $19,019,000 after buying an additional 3,866 shares during the last quarter. Hedge funds and other institutional investors own 90.69% 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.

5 Day Chart for NASDAQ:ZION

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