Several other brokerages have also weighed in on ZION. Vetr lowered shares of Zions Bancorp from a hold rating to a sell rating and set a $26.45 target price for the company. in a research note on Wednesday, July 27th. Deutsche Bank AG increased their target price on shares of Zions Bancorp from $30.00 to $35.00 and gave the stock a hold rating in a research note on Tuesday. Piper Jaffray Cos. raised shares of Zions Bancorp from a neutral rating to an overweight rating and set a $29.00 target price for the company in a research note on Thursday, July 7th. They noted that the move was a valuation call. Raymond James Financial Inc. raised their price objective on shares of Zions Bancorp from $32.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, September 13th. Finally, FIG Partners began coverage on shares of Zions Bancorp in a research note on Thursday, July 7th. They issued an outperform rating and a $29.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. Zions Bancorp currently has a consensus rating of Hold and a consensus target price of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.36 on Tuesday. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15. The stock has a 50 day moving average of $30.60 and a 200 day moving average of $27.64. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 18.30 and a beta of 1.54.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter last year, the firm earned $0.41 earnings per share. Analysts forecast that Zions Bancorp will post $1.85 earnings per share for the current year.
In other Zions Bancorp 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 transaction of $251,730.00. Following the sale, the executive vice president now directly 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 available 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 stock was sold at an average price of $27.81, for a total transaction of $45,052.20. Following the sale, the insider now owns 29,429 shares in the company, valued at $818,420.49. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
Several large investors have recently modified their holdings of ZION. Canada Pension Plan Investment Board raised its stake 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 valued at $121,000 after buying an additional 100 shares during the last quarter. Seven Eight Capital LLC raised its stake 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 valued at $155,000 after buying an additional 4,500 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Zions Bancorp during the second quarter valued at approximately $208,000. MAI Capital Management raised its stake 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 valued at $217,000 after buying an additional 27 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in shares of Zions Bancorp during the second quarter valued at approximately $234,000. 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.
Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.