Zions Bancorporation Stock Rating Upgraded by RBS (ZION)
Zions Bancorporation (NASDAQ:ZION) was upgraded by RBS from a “sector perform” rating to an “outperform” rating in a research note issued on Monday, Analyst Ratings Network.com reports. The firm currently has a $34.00 price objective on the stock, up from their previous price objective of $33.00. RBS’s target price points to a potential upside of 17.53% from the stock’s previous close.
A number of other firms have also recently commented on ZION. Analysts at RBC Capital upgraded shares of Zions Bancorporation from a “sector perform” rating to an “outperform” rating in a research note to investors on Monday. Separately, analysts at DA Davidson upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, February 5th. They now have a $34.00 price target on the stock, up previously from $29.00. They noted that the move was a valuation call. Finally, analysts at TheStreet downgraded shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, February 4th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Zions Bancorporation presently has an average rating of “Hold” and a consensus target price of $30.08.
In other Zions Bancorporation news, Insider Dallas Haun unloaded 5,000 shares of Zions Bancorporation stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $28.06, for a total transaction of $140,300.00. Following the completion of the transaction, the insider now directly owns 28,168 shares in the company, valued at approximately $790,394. The sale was disclosed in a filing with the SEC, which is available at this link.
Zions Bancorporation (NASDAQ:ZION) traded up 1.00% during mid-day trading on Monday, hitting $29.22. The stock had a trading volume of 612,116 shares. Zions Bancorporation has a 1-year low of $23.10 and a 1-year high of $32.29. The stock has a 50-day moving average of $29.74 and a 200-day moving average of $29.00. The company has a market cap of $5.396 billion and a P/E ratio of 18.31.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.42 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.42. During the same quarter last year, the company posted $0.19 earnings per share. On average, analysts predict that Zions Bancorporation will post $1.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 27th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, February 18th.
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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