Zions Bancorp (NASDAQ:ZION) had its price objective raised by research analysts at Credit Agricole SA from $33.00 to $36.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the stock. Credit Agricole SA’s target price would suggest a potential upside of 19.92% from the company’s current price.
A number of other analysts have also recently issued reports on the company. Bank of America Corp. cut Zions Bancorp from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday, August 4th. Credit Suisse Group AG restated an “outperform” rating on shares of Zions Bancorp in a report on Thursday, August 18th. FBR & Co decreased their price target on Zions Bancorp from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Finally, TheStreet upgraded Zions Bancorp from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. Zions Bancorp has an average rating of “Hold” and a consensus price target of $31.75.
Zions Bancorp (NASDAQ:ZION) opened at 30.02 on Friday. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 18.10 and a beta of 1.64. Zions Bancorp has a 12 month low of $19.65 and a 12 month high of $31.28. The stock’s 50 day moving average is $29.72 and its 200-day moving average is $27.11.
Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Zions Bancorp will post $1.85 earnings per share for the current year.
In other news, insider Mark Richard Young sold 65,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total value of $1,346,800.00. Following the completion of the transaction, the insider now owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David E. Blackford sold 1,620 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.81, for a total value of $45,052.20. Following the completion of the transaction, the insider now directly owns 29,429 shares of the company’s stock, valued at approximately $818,420.49. The disclosure for this sale can be found here. 2.06% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in 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 boosted its position 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Zions Bancorp during the second quarter valued at $208,000. MAI Capital Management boosted its position 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 in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of Zions Bancorp during the second quarter valued at $234,000. 87.36% of the stock is owned by institutional investors.
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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