Zions Bancorp (NASDAQ:ZION) had its price objective raised by investment analysts at Deutsche Bank AG from $30.00 to $35.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price target indicates a potential upside of 12.14% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. FBR & Co cut shares of Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a report on Tuesday. Piper Jaffray Cos. cut shares of Zions Bancorp from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $30.00 to $32.00 in a report on Monday. Raymond James Financial Inc. cut shares of Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Thursday, October 6th. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Monday, October 3rd. Finally, Credit Agricole SA boosted their price objective on shares of Zions Bancorp from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.60.
Zions Bancorp (NASDAQ:ZION) opened at 31.21 on Tuesday. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15. The stock’s 50 day moving average is $30.57 and its 200-day moving average is $27.62. The company has a market cap of $6.40 billion, a P/E ratio of 18.81 and a beta of 1.54.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ 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 in the previous year, the company earned $0.41 earnings per share. Analysts predict that Zions Bancorp will post $1.85 earnings per share for the current fiscal year.
In related news, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.97, for a total transaction of $251,730.00. Following the transaction, the executive vice president now directly owns 44,072 shares of the company’s stock, valued at $1,232,693.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David E. Blackford sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.81, for a total transaction of $45,052.20. Following the transaction, the insider now directly owns 29,429 shares in the company, valued at $818,420.49. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Zions Bancorp by 3.4% in the second quarter. Vanguard Group Inc. now owns 17,950,779 shares of the company’s stock worth $451,103,000 after buying an additional 596,109 shares in the last quarter. State Street Corp raised its position in Zions Bancorp by 3.6% in the second quarter. State Street Corp now owns 10,955,604 shares of the company’s stock worth $275,313,000 after buying an additional 382,293 shares in the last quarter. Wellington Management Group LLP raised its position in Zions Bancorp by 4.9% in the first quarter. Wellington Management Group LLP now owns 9,115,604 shares of the company’s stock worth $220,689,000 after buying an additional 429,375 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Zions Bancorp by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,371,029 shares of the company’s stock worth $130,033,000 after buying an additional 43,881 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Zions Bancorp by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,359,703 shares of the company’s stock worth $134,689,000 after buying an additional 393,926 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.
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.
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.