Zions Bancorporation Downgraded to Equal weight at Evercore Partners (ZION)
Zions Bancorporation (NASDAQ:ZION) was downgraded by research analysts at Evercore Partners from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, Analyst Ratings Net reports. They currently have a $28.00 price target on the stock, down from their previous price target of $33.00. Evercore Partners’ price target indicates a potential downside of 2.91% from the stock’s previous close.
Shares of Zions Bancorporation (NASDAQ:ZION) opened at 28.84 on Wednesday. Zions Bancorporation has a one year low of $25.00 and a one year high of $33.33. The stock has a 50-day moving average of $30.28 and a 200-day moving average of $29.75. The company has a market cap of $5.332 billion and a P/E ratio of 18.93.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.41 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.42 by $0.01. During the same quarter last year, the company posted $0.48 earnings per share. Analysts expect that Zions Bancorporation will post $1.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 29th. Investors of record on Thursday, May 22nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, May 20th.
A number of other analysts have also recently weighed in on ZION. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Zions Bancorporation in a research note on Thursday, April 24th. They now have a $32.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Zions Bancorporation in a research note on Tuesday, April 22nd. They now have a $31.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of Zions Bancorporation from $36.00 to $35.00 in a research note on Tuesday, April 22nd. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Zions Bancorporation presently has a consensus rating of “Hold” and an average target price of $30.77.
Zions Bancorporation is a financial holding company. The Company focuses on providing community banking services by 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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