Barclays Reiterates Equal Weight Rating for Zions Bancorporation (ZION)
Zions Bancorporation (NASDAQ:ZION)‘s stock had its “equal weight” rating reaffirmed by research analysts at Barclays in a report released on Monday. They currently have a $31.00 price objective on the stock, down from their previous price objective of $32.00. Barclays’ price target indicates a potential upside of 10.95% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein upgraded shares of Zions Bancorporation from an “underperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. They now have a $30.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Bernstein upgraded shares of Zions Bancorporation to a “market perform” rating in a research note on Tuesday, July 29th. Finally, analysts at Jefferies Group raised their price target on shares of Zions Bancorporation from $26.00 to $28.00 in a research note on Tuesday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.68.
Shares of Zions Bancorporation (NASDAQ:ZION) traded up 0.25% during mid-day trading on Monday, hitting $28.01. The stock had a trading volume of 510,725 shares. Zions Bancorporation has a 1-year low of $26.79 and a 1-year high of $33.33. The stock has a 50-day moving average of $29.19 and a 200-day moving average of $29.71. The company has a market cap of $5.680 billion and a P/E ratio of 15.71.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.11. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, analysts predict that Zions Bancorporation will post $1.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, August 19th.
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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