Zions Bancorp (NASDAQ:ZION) had its target price lifted by equities research analysts at Barclays from $52.00 to $57.00 in a research note issued on Tuesday. The brokerage currently has an “overweight” rating on the bank’s stock. Barclays’ price objective would indicate a potential upside of 12.14% from the stock’s current price.
ZION has been the subject of several other research reports. Jefferies Group reaffirmed a “buy” rating and set a $54.00 target price on shares of Zions Bancorp in a research note on Thursday, October 12th. Royal Bank of Canada raised their target price on Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. BidaskClub cut Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 target price on shares of Zions Bancorp in a research note on Tuesday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $49.00 target price (up previously from $48.00) on shares of Zions Bancorp in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $51.42.
Zions Bancorp (NASDAQ:ZION) traded down $0.51 during trading hours on Tuesday, hitting $50.83. The stock had a trading volume of 1,261,900 shares, compared to its average volume of 2,483,825. Zions Bancorp has a 12 month low of $38.43 and a 12 month high of $52.20. The company has a market capitalization of $10,152.98, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.
In other news, General Counsel Thomas E. Laursen sold 1,600 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total transaction of $74,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Keith D. Maio sold 13,019 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total value of $604,602.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,979 shares of company stock valued at $2,057,927. 1.46% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ZION. EJF Capital purchased a new stake in Zions Bancorp in the 3rd quarter worth about $20,655,000. Janus Capital Management purchased a new stake in Zions Bancorp in the 3rd quarter worth about $14,189,000. River & Mercantile Asset Management purchased a new stake in Zions Bancorp in the 4th quarter worth about $2,266,000. Chevy Chase Trust Holdings lifted its stake in Zions Bancorp by 1.0% in the 4th quarter. Chevy Chase Trust Holdings now owns 165,417 shares of the bank’s stock worth $4,516,000 after acquiring an additional 1,573 shares in the last quarter. Finally, Sarasin & Partners lifted its stake in Zions Bancorp by 71.5% in the 4th quarter. Sarasin & Partners now owns 487,183 shares of the bank’s stock worth $13,300,000 after acquiring an additional 203,105 shares in the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.
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About Zions Bancorp
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.
