Zions Bancorp (NASDAQ:ZION) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday. They presently have a $38.00 price objective on the stock. Macquarie’s price target points to a potential downside of 2.88% from the company’s current price.

Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, November 18th. Sanford C. Bernstein lowered shares of Zions Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $37.00 to $38.00 in a research note on Wednesday, November 16th. They noted that the move was a valuation call. Morgan Stanley lowered shares of Zions Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $34.00 to $38.00 in a research note on Wednesday, November 16th. They noted that the move was a valuation call. Royal Bank Of Canada boosted their target price on shares of Zions Bancorp from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, November 10th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $40.00 target price (up previously from $32.00) on shares of Zions Bancorp in a research note on Thursday, November 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.05.

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

Shares of Zions Bancorp (NASDAQ:ZION) opened at 39.12 on Tuesday. Zions Bancorp has a 52 week low of $19.65 and a 52 week high of $39.19. The firm has a market cap of $7.97 billion, a PE ratio of 21.49 and a beta of 1.37. The company has a 50 day moving average of $33.56 and a 200 day moving average of $29.41.

Zions Bancorp (NASDAQ:ZION) last released its earnings results on Monday, October 24th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. Zions Bancorp had a net margin of 17.81% and a return on equity of 6.16%. During the same quarter last year, the business earned $0.41 earnings per share. On average, equities research analysts anticipate that Zions Bancorp will post $1.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.82%. Zions Bancorp’s dividend payout ratio is 17.58%.

In related news, insider Mark Richard Young sold 19,893 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $32.27, for a total value of $641,947.11. Following the transaction, the insider now owns 27,156 shares in the company, valued at $876,324.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Thomas E. Laursen sold 10,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 2.06% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ZION. Toronto Dominion Bank purchased a new position in Zions Bancorp during the third quarter worth approximately $131,000. Jacobus Wealth Management Inc. increased its position in Zions Bancorp by 12.2% in the third quarter. Jacobus Wealth Management Inc. now owns 4,600 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. SRB Corp purchased a new position in Zions Bancorp during the third quarter worth approximately $173,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Zions Bancorp by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,293 shares of the company’s stock worth $195,000 after buying an additional 748 shares in the last quarter. Finally, Seven Eight Capital LLC increased its position in 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. Hedge funds and other institutional investors own 91.36% of the company’s stock.

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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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