A number of other analysts have also issued reports on ZION. Royal Bank Of Canada reissued a buy rating and issued a $32.00 price target on shares of Zions Bancorp in a research report on Thursday, June 16th. Bank of America Corp. lowered shares of Zions Bancorp from a neutral rating to an underperform rating in a research report on Wednesday, June 29th. Barclays PLC reissued an overweight rating and issued a $30.00 price target on shares of Zions Bancorp in a research report on Thursday, June 30th. TheStreet lowered shares of Zions Bancorp from a buy rating to a hold rating in a research report on Tuesday, July 5th. Finally, FIG Partners assumed coverage on shares of Zions Bancorp in a research report on Thursday, July 7th. They set an outperform rating and a $29.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $32.60.
Zions Bancorp (NASDAQ:ZION) traded up 0.38% during trading on Tuesday, hitting $31.42. 364,473 shares of the stock were exchanged. The firm has a market cap of $6.44 billion, a PE ratio of 18.94 and a beta of 1.54. The stock’s 50-day moving average price is $30.52 and its 200-day moving average price is $27.59. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $0.41 earnings per share. On average, equities analysts expect that Zions Bancorp will post $1.85 EPS for the current year.
In related news, insider Mark Richard Young sold 65,000 shares of Zions Bancorp stock in a transaction dated 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 directly 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Keith D. Maio sold 9,000 shares of Zions Bancorp stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the completion of the transaction, the executive vice president now directly owns 44,072 shares of the company’s stock, valued at $1,232,693.84. The disclosure for this sale can be found here. 2.06% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted 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 in the last quarter. Seven Eight Capital LLC boosted 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Zions Bancorp during the second quarter valued at $208,000. MAI Capital Management boosted 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 in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Zions Bancorp during the second quarter valued at $234,000. 87.36% of the stock is 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.