Zions Bancorp (ZION) Cut to Hold at BidaskClub

Zions Bancorp (NASDAQ:ZION) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other equities research analysts also recently commented on ZION. Barclays upped their price target on shares of Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 price target on shares of Zions Bancorp in a research report on Tuesday, October 3rd. Robert W. Baird downgraded shares of Zions Bancorp from a “neutral” rating to an “underperform” rating and set a $43.00 price target for the company. in a research report on Monday, October 2nd. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Zions Bancorp in a research report on Wednesday, December 20th. Finally, Jefferies Group restated a “buy” rating and issued a $54.00 price target on shares of Zions Bancorp in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $51.42.

Zions Bancorp (NASDAQ ZION) traded up $0.02 during mid-day trading on Friday, reaching $50.87. 1,212,178 shares of the company traded hands, compared to its average volume of 2,120,975. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $52.20. The firm has a market capitalization of $10,140.00, a price-to-earnings ratio of 19.05, a PEG ratio of 1.71 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.

Zions Bancorp (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Zions Bancorp had a net margin of 22.70% and a return on equity of 8.54%. The business had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same period in the prior year, the company earned $0.57 earnings per share. equities analysts forecast that Zions Bancorp will post 2.8 earnings per share for the current year.

In other Zions Bancorp news, insider Joseph L. Reilly sold 23,271 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total value of $1,086,755.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Keith D. Maio sold 13,019 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,979 shares of company stock worth $2,057,927. Company insiders own 1.46% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ZION. Schwab Charles Investment Management Inc. increased its stake in Zions Bancorp by 6.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,074,701 shares of the bank’s stock valued at $47,191,000 after buying an additional 65,312 shares during the period. Advisors Asset Management Inc. acquired a new position in Zions Bancorp in the 2nd quarter valued at approximately $108,000. Federated Investors Inc. PA increased its stake in Zions Bancorp by 55.4% in the 2nd quarter. Federated Investors Inc. PA now owns 5,829 shares of the bank’s stock valued at $256,000 after buying an additional 2,077 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Zions Bancorp by 360.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,205 shares of the bank’s stock valued at $1,502,000 after buying an additional 26,783 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Zions Bancorp by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 319,256 shares of the bank’s stock valued at $14,018,000 after buying an additional 4,016 shares during the period. Hedge funds and other institutional investors own 92.54% of the company’s stock.

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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.

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

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