Zions Bancorp (NASDAQ:ZION) had its price target lifted by equities researchers at Barclays PLC from $31.00 to $36.00 in a note issued to investors on Tuesday. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s price target points to a potential upside of 15.35% from the company’s previous close.
Other research analysts also recently issued reports about the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Zions Bancorp in a report on Tuesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 price target on shares of Zions Bancorp in a report on Thursday, June 16th. 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. Raymond James Financial Inc. boosted their price target on Zions Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, Credit Agricole SA boosted their price target on Zions Bancorp from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.60.
Zions Bancorp (NASDAQ:ZION) opened at 31.21 on Tuesday. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 18.81 and a beta of 1.54. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $32.15. The company has a 50-day moving average price of $30.57 and a 200-day moving average price of $27.62.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.41 EPS. On average, equities research analysts forecast that Zions Bancorp will post $1.85 earnings per share for the current year.
In other news, insider David E. Blackford sold 1,620 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.81, for a total transaction of $45,052.20. Following the transaction, the insider now owns 29,429 shares of the company’s stock, valued at $818,420.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Keith D. Maio sold 9,000 shares of the stock in a transaction dated Friday, July 29th. The stock was 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 in the company, valued at approximately $1,232,693.84. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Zions Bancorp by 1.3% in the third quarter. Nisa Investment Advisors LLC now owns 64,512 shares of the company’s stock valued at $2,001,000 after buying an additional 800 shares during the last quarter. Capstone Asset Management Co. raised its stake in Zions Bancorp by 1.3% in the third quarter. Capstone Asset Management Co. now owns 28,176 shares of the company’s stock valued at $874,000 after buying an additional 350 shares during the period. Eagle Asset Management Inc. acquired a new stake in Zions Bancorp during the third quarter valued at $2,936,000. Creative Planning raised its stake in Zions Bancorp by 3,073.6% in the third quarter. Creative Planning now owns 26,055 shares of the company’s stock valued at $808,000 after buying an additional 25,234 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Zions Bancorp by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 20,924 shares of the company’s stock valued at $649,000 after buying an additional 110 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.
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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