Zions Bancorporation Stock Rating Upgraded by Goldman Sachs (ZION)
Zions Bancorporation (NASDAQ:ZION) was upgraded by equities research analysts at Goldman Sachs from a “sell” rating to a “neutral” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $33.00 target price on the stock, up from their previous target price of $29.00. Goldman Sachs’ price objective would suggest a potential upside of 6.80% from the stock’s previous close.
ZION has been the subject of a number of other recent research reports. Analysts at RBS upgraded shares of Zions Bancorporation from a “sector perform” rating to an “outperform” rating in a research note on Monday. They now have a $34.00 price target on the stock, up previously from $33.00. Separately, analysts at RBC Capital upgraded shares of Zions Bancorporation from a “sector perform” rating to an “outperform” rating in a research note on Monday. Finally, analysts at DA Davidson upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating in a research note 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. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Zions Bancorporation presently has an average rating of “Hold” and an average price target of $30.21.
In other Zions Bancorporation news, Insider Dallas Haun sold 4,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $29.38, for a total value of $117,520.00. Following the transaction, the insider now directly owns 24,168 shares of the company’s stock, valued at approximately $710,056. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Zions Bancorporation (NASDAQ:ZION) traded up 1.04% during mid-day trading on Friday, hitting $30.23. The stock had a trading volume of 470,115 shares. Zions Bancorporation has a 52 week low of $23.10 and a 52 week high of $32.29. The stock has a 50-day moving average of $29.76 and a 200-day moving average of $28.9. The company has a market cap of $5.583 billion and a price-to-earnings ratio of 18.94.
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. Analysts expect that Zions Bancorporation will post $1.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 27th. Shareholders 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 0.52%. 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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