Zions Bancorporation Stock Rating Lowered by Citigroup Inc. (ZION)
Zions Bancorporation (NASDAQ:ZION) was downgraded by Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Shares of Zions Bancorporation (NASDAQ:ZION) traded down 7.13% on Tuesday, hitting $27.73. The stock had a trading volume of 6,906,172 shares. Zions Bancorporation has a 1-year low of $19.03 and a 1-year high of $31.40. The stock’s 50-day moving average is $28.29 and its 200-day moving average is $27.8. The company has a market cap of $5.117 billion and a P/E ratio of 22.97.
Zions Bancorporation (NASDAQ:ZION) last released its earnings data on Monday, October 21st. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.02. During the same quarter in the prior year, the company posted $0.34 earnings per share.
Several other analysts have also recently commented on the stock. Analysts at ISI Group initiated coverage on shares of Zions Bancorporation in a research note to investors on Tuesday, October 8th. They set a “neutral” rating and a $29.00 price target on the stock. Separately, analysts at Guggenheim cut their price target on shares of Zions Bancorporation from $33.50 to $31.00 in a research note to investors on Monday, September 30th. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Zions Bancorporation to a “neutral” rating in a research note to investors on Tuesday, September 17th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.82.
Zions Bancorporation is a financial holding company. The Company focuses on providing community banking services by continuously strengthening its core business lines of 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; trust and wealth management, and investment activities.
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