Zions Bancorporation Given New $24.00 Price Target at Sanford C. Bernstein (ZION)
Research analysts at Sanford C. Bernstein boosted their target price on shares of Zions Bancorporation (NASDAQ:ZION) from $22.00 to $24.00 in a report released on Tuesday, Analyst Ratings.Net reports. Sanford C. Bernstein’s price objective would indicate a potential downside of 19.81% from the stock’s previous close.
Zions Bancorporation (NASDAQ:ZION) traded down 0.74% on Tuesday, hitting $29.708. The stock had a trading volume of 1,324,741 shares. Zions Bancorporation has a 52 week low of $22.62 and a 52 week high of $32.29. The stock has a 50-day moving average of $29.7 and a 200-day moving average of $29.07. The company has a market cap of $5.485 billion and a P/E ratio of 14.25.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, analysts predict that Zions Bancorporation will post $1.87 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ZION. Analysts at Credit Suisse cut their price target on shares of Zions Bancorporation from $34.00 to $33.00 in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Zions Bancorporation in a research note to investors on Monday, December 9th. They now have a $31.00 price target on the stock. Finally, analysts at Raymond James downgraded shares of Zions Bancorporation from a “strong-buy” rating to an “outperform” rating in a research note to investors on Tuesday, November 19th. They now have a $32.00 price target on the stock, down previously from $36.00. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.64.
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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