Deutsche Bank AG Boosts Zions Bancorp (ZION) Price Target to $35.00
Zions Bancorp (NASDAQ:ZION) had its price target upped by analysts at Deutsche Bank AG from $30.00 to $35.00 in a report released on Tuesday. The firm currently has a “hold” rating on the stock. Deutsche Bank AG’s price target indicates a potential upside of 10.03% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Barclays PLC set a $31.00 price target on Zions Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 price objective on shares of Zions Bancorp in a report on Thursday, June 16th. Credit Suisse Group AG reiterated a “buy” rating on shares of Zions Bancorp in a report on Tuesday, July 12th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday, August 4th. Finally, Raymond James Financial Inc. increased their price objective on Zions Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.60.
Shares of Zions Bancorp (NASDAQ:ZION) traded down 2.26% on Tuesday, reaching $31.09. The company’s stock had a trading volume of 1,655,551 shares. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 18.74 and a beta of 1.54. Zions Bancorp has a 1-year low of $19.65 and a 1-year high of $32.15. The stock has a 50-day moving average price of $30.46 and a 200-day moving average price of $27.56.
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Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same quarter in the prior year, the business posted $0.41 EPS. On average, equities research analysts forecast that Zions Bancorp will post $1.85 EPS for the current year.
In other news, insider David E. Blackford sold 1,620 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.81, for a total value of $45,052.20. Following the completion of the sale, the insider now directly owns 29,429 shares of the company’s stock, valued at approximately $818,420.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Richard Young sold 65,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total value of $1,346,800.00. Following the completion of the sale, the insider now directly owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The disclosure for this sale can be found here. 2.06% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of ZION. AXA acquired a new stake in Zions Bancorp during the first quarter valued at approximately $12,558,000. Pictet Asset Management Ltd. boosted its stake in Zions Bancorp by 21.4% in the first quarter. Pictet Asset Management Ltd. now owns 38,079 shares of the company’s stock valued at $812,000 after buying an additional 6,700 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Zions Bancorp by 47.4% in the first quarter. Rafferty Asset Management LLC now owns 27,517 shares of the company’s stock valued at $666,000 after buying an additional 8,846 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock valued at $121,000 after buying an additional 100 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Zions Bancorp by 109.3% in the first quarter. JPMorgan Chase & Co. now owns 5,031,900 shares of the company’s stock valued at $121,823,000 after buying an additional 2,628,142 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.
Zions Bancorp Company Profile
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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 servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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