Zions Bancorporation Price Target Cut to $32.00 (ZION)
SunTrust lowered their price objective on shares of Zions Bancorporation (NASDAQ:ZION) from $36.00 to $32.00 in a research note issued on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. SunTrust’s target price suggests a potential upside of 13.76% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group cut their price target on shares of Zions Bancorporation from $31.00 to $28.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Zions Bancorporation from $33.00 to $32.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Zions Bancorporation in a research note to investors on Tuesday. They now have a $29.00 price target on the stock. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $28.73.
Zions Bancorporation (NASDAQ:ZION) traded up 0.93% on Wednesday, hitting $28.13. 4,293,322 shares of the company’s stock traded hands. Zions Bancorporation has a 52 week low of $19.03 and a 52 week high of $31.40. The stock has a 50-day moving average of $29.10 and a 200-day moving average of $27.20. The company has a market cap of $5.191 billion and a price-to-earnings ratio of 21.44.
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. On average, analysts predict that Zions Bancorporation will post $1.69 earnings per share for the current fiscal year.
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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