Zions Bancorporation (NASDAQ:ZION)‘s stock had its “hold” rating reissued by equities researchers at Piper Jaffray Companies in a report issued on Tuesday. They currently have a $44.00 price target on the bank’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 5.15% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $49.00 target price on shares of Zions Bancorporation in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Thursday, July 13th. BidaskClub upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Bank of America Corporation upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $52.00 in a research report on Wednesday, August 16th. Finally, FBR & Co reiterated a “buy” rating and issued a $54.00 target price on shares of Zions Bancorporation in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.00.

Shares of Zions Bancorporation (NASDAQ:ZION) traded down 0.09% on Tuesday, hitting $46.35. 3,759,748 shares of the stock traded hands. The firm has a market cap of $9.37 billion, a P/E ratio of 18.45 and a beta of 1.44. The stock has a 50-day moving average price of $45.42 and a 200 day moving average price of $43.35. Zions Bancorporation has a 52 week low of $30.85 and a 52 week high of $48.33.

Zions Bancorporation (NASDAQ:ZION) last issued its earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $666.83 million. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. During the same quarter last year, the company earned $0.57 EPS. Equities research analysts predict that Zions Bancorporation will post $2.81 EPS for the current fiscal year.

Zions Bancorporation announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $465.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

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In other news, insider David E. Blackford sold 9,533 shares of Zions Bancorporation stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $44.94, for a total transaction of $428,413.02. Following the sale, the insider now owns 22,997 shares of the company’s stock, valued at approximately $1,033,485.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Schreiber sold 13,000 shares of Zions Bancorporation stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $44.98, for a total transaction of $584,740.00. Following the sale, the insider now directly owns 51,517 shares in the company, valued at approximately $2,317,234.66. The disclosure for this sale can be found here. Insiders have sold a total of 27,118 shares of company stock worth $1,222,407 in the last ninety days. Insiders own 1.46% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ZION. BlackRock Inc. boosted its stake in shares of Zions Bancorporation by 4,464.8% during the 1st quarter. BlackRock Inc. now owns 11,741,470 shares of the bank’s stock valued at $493,142,000 after purchasing an additional 11,484,250 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in shares of Zions Bancorporation by 705.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock valued at $139,918,000 after purchasing an additional 2,791,044 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Zions Bancorporation by 276.0% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock valued at $80,080,000 after purchasing an additional 1,338,748 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Zions Bancorporation by 16,303.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 1,223,566 shares in the last quarter. Finally, Harbour Capital Advisors LLC boosted its stake in shares of Zions Bancorporation by 4,471.9% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,165,240 shares of the bank’s stock valued at $26,537,000 after purchasing an additional 1,139,753 shares in the last quarter. 92.28% of the stock is currently owned by hedge funds and other institutional investors.

About Zions Bancorporation

Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.

Analyst Recommendations for Zions Bancorporation (NASDAQ:ZION)

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