Zions Bancorp (ZION) PT Raised to $36.00 at Barclays PLC
Zions Bancorp (NASDAQ:ZION) had its target price boosted by equities research analysts at Barclays PLC from $31.00 to $36.00 in a report released on Tuesday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s price objective indicates a potential upside of 13.17% from the company’s previous close.
Several other equities analysts have also recently weighed in on the stock. Deutsche Bank AG increased their price objective on shares of Zions Bancorp from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Tuesday. FBR & Co cut shares of Zions Bancorp from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Tuesday. Piper Jaffray Cos. cut shares of Zions Bancorp from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $32.00 in a research note on Monday. Raymond James Financial Inc. cut shares of Zions Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 6th. Finally, Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Monday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Zions Bancorp currently has an average rating of “Hold” and a consensus price target of $32.60.
Zions Bancorp (NASDAQ:ZION) traded down 2.26% on Tuesday, hitting $31.09. 1,655,651 shares of the company’s stock were exchanged. The stock has a market cap of $6.38 billion, a P/E ratio of 18.74 and a beta of 1.54. The firm has a 50 day moving average price of $30.46 and a 200-day moving average price of $27.56. Zions Bancorp has a 52-week low of $19.65 and a 52-week high of $32.15.
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Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Zions Bancorp had a net margin of 16.37% and a return on equity of 5.62%. During the same quarter in the previous year, the company posted $0.41 EPS. Analysts predict that Zions Bancorp will post $1.85 earnings per share for the current fiscal year.
In other news, insider David E. Blackford sold 1,620 shares of Zions Bancorp stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.81, for a total transaction of $45,052.20. Following the completion of the sale, the insider now directly owns 29,429 shares in the company, valued at $818,420.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Richard Young sold 65,000 shares of Zions Bancorp stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total value of $1,346,800.00. Following the sale, the insider now owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased 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 during the period. Seven Eight Capital LLC increased its stake in Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock valued at $155,000 after buying an additional 4,500 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Zions Bancorp during the second quarter valued at $208,000. MAI Capital Management increased its stake in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock valued at $217,000 after buying an additional 27 shares during the period. Finally, Parametrica Management Ltd acquired a new stake in Zions Bancorp during the second quarter valued at $234,000. Institutional investors and hedge funds own 87.36% of the company’s stock.
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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