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.
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.
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