Zions Bancorporation Given New $36.00 Price Target at DA Davidson (ZION)
Research analysts at DA Davidson lifted their price objective on shares of Zions Bancorporation (NASDAQ:ZION) from $34.00 to $36.00 in a report released on Tuesday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 16.50% from the company’s current price.
Shares of Zions Bancorporation (NASDAQ:ZION) opened at 30.90 on Tuesday. Zions Bancorporation has a one year low of $23.10 and a one year high of $32.29. The stock’s 50-day moving average is $29.81 and its 200-day moving average is $29.02. The company has a market cap of $5.707 billion and a price-to-earnings ratio of 19.20.
Zions Bancorporation (NASDAQ:ZION) last announced its earnings results 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 declared a quarterly dividend, which is scheduled for Thursday, February 27th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Tuesday, February 18th.
In other Zions Bancorporation news, Insider Dallas Haun unloaded 4,000 shares of Zions Bancorporation stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $29.38, for a total value of $117,520.00. Following the sale, the insider now directly owns 24,168 shares in the company, valued at approximately $710,056. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on ZION. Analysts at Keefe, Bruyette & Woods upgraded shares of Zions Bancorporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $36.00 price target on the stock, up previously from $32.00. Separately, analysts at Goldman Sachs upgraded shares of Zions Bancorporation from a “sell” rating to a “neutral” rating in a research note on Friday. They now have a $33.00 price target on the stock, up previously from $29.00. Finally, analysts at RBS upgraded shares of Zions Bancorporation from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 10th. They now have a $34.00 price target on the stock, up previously from $33.00. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Zions Bancorporation presently has a consensus rating of “Hold” and an average target price of $30.60.
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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