Zions Bancorp (ZION) – Research Analysts’ Weekly Ratings Changes
Zions Bancorp (NASDAQ: ZION) recently received a number of ratings updates from brokerages and research firms:
- 10/11/2016 – Zions Bancorp was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating. They now have a $32.00 price target on the stock.
- 10/11/2016 – Zions Bancorp had its price target raised by analysts at Deutsche Bank AG from $30.00 to $35.00. They now have a “hold” rating on the stock.
- 10/11/2016 – Zions Bancorp had its price target raised by analysts at Barclays PLC from $31.00 to $36.00. They now have an “overweight” rating on the stock.
- 10/10/2016 – Zions Bancorp was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating. They now have a $32.00 price target on the stock, up previously from $30.00.
- 10/6/2016 – Zions Bancorp was downgraded by analysts at Raymond James Financial Inc. from a “strong-buy” rating to a “market perform” rating.
- 10/3/2016 – Zions Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $35.00 price target on the stock. According to Zacks, “Estimates have been going up ahead of Zions' third-quarter 2016 earnings release. Further, the company has a positive record of earnings surprises in recent quarters. Moreover, growth in loans and deposits indicates improvement in revenues in the quarters ahead, while stable credit quality and balance sheet restructuring will strengthen the company’s financials. Also, cost control initiatives will support bottom line. In addition, the company enjoys a robust capital position, which helped it to return capital and continue to boost investors' confidence. However, concentration risk, asset-sensitive balance sheet and regulatory restrictions continue to be matters of concern. Moreover, stress in energy sector loan portfolio adds to the woes.”
- 9/23/2016 – Zions Bancorp had its price target raised by analysts at Credit Agricole SA from $33.00 to $36.00. They now have a “buy” rating on the stock.
- 9/20/2016 – Zions Bancorp had its price target raised by analysts at Credit Suisse Group AG from $32.00 to $36.00. They now have an “outperform” rating on the stock.
- 9/13/2016 – Zions Bancorp had its price target raised by analysts at Raymond James Financial Inc. from $32.00 to $36.00. They now have a “buy” rating on the stock.
- 9/5/2016 – Zions Bancorp was upgraded by analysts at Vetr from a “strong sell” rating to a “sell” rating. They now have a $29.00 price target on the stock.
- 8/29/2016 – Zions Bancorp was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating. They now have a $26.45 price target on the stock.
- 8/18/2016 – Zions Bancorp had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They wrote, “We believe an improved revenue run-rate combined with expense discipline will drive PPNR (pre-provision net revenue) higher—which is not only important from the perspective of driving bottom line results, but is an important factor in capital return flexibility with the CCAR process,” analyst Jill Shea wrote in a note.It’s All In The Balance”We have confidence in the achievability of our PPNR forecasts for ZION (if not beatable) given balance sheet growth, cash redeployment (incremental interest income pick-up) and demonstrated cost control,” Shea continued.The analyst said the management commentary suggests a more stable NIM from here, although his math suggests that there is near-term upward bias to the NIM from favorable balance sheet remix. Related Link: What Oppenheimer Learned From Banks’ Earnings Season”Our analysis suggests a NIM boost in 3Q (helping the forward run-rate) given cash deployment and late 2Q’16 debt redemptions,” Shea noted.Meanwhile, Zions has set itself up for an improved CCAR result. The company has successfully reduced risk and improved capital and PPNR — resulting in improved stressed capital ratios year-over-year. ZION was approved for increased capital return in 2016 CCAR (about 60 percent vs. 15 percent in 2015).Looking Forward”[G]iven de-risking and starting points of capital, a more aggressive 2017 CCAR ‘ask’ would be appropriate (barring unforeseen changes in the scenarios),”
- 8/16/2016 – Zions Bancorp had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $32.00 price target on the stock, up previously from $30.00.
Shares of Zions Bancorp (NASDAQ:ZION) traded down 0.29% during mid-day trading on Wednesday, hitting $31.21. The stock had a trading volume of 1,451,841 shares. Zions Bancorp has a 52-week low of $19.65 and a 52-week high of $32.15. The stock has a 50 day moving average price of $30.52 and a 200-day moving average price of $27.59. The company has a market cap of $6.40 billion, a PE ratio of 18.81 and a beta of 1.54.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, beating 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 firm posted $0.41 earnings per share. On average, equities analysts expect that Zions Bancorp will post $1.85 earnings per share for the current fiscal year.
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In other Zions Bancorp news, insider Mark Richard Young sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total transaction 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 approximately $1,165,396.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David E. Blackford sold 1,620 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $27.81, for a total value of $45,052.20. Following the sale, the insider now directly owns 29,429 shares of the company’s stock, valued at $818,420.49. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
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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