Zions Bancorp (NASDAQ:ZION)‘s stock had its “buy” rating restated by analysts at B. Riley in a research report issued to clients and investors on Tuesday. They currently have a $60.00 price target on the bank’s stock. B. Riley’s target price points to a potential upside of 10.78% from the company’s previous close.
ZION has been the subject of several other research reports. Jefferies Group reissued a “buy” rating and issued a $54.00 price target on shares of Zions Bancorp in a research note on Thursday, October 12th. Royal Bank of Canada increased their price target on shares of Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. Wells Fargo & Co reissued an “outperform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Zions Bancorp in a research note on Tuesday. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Finally, Barclays increased their price target on shares of Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.28.
Shares of Zions Bancorp (ZION) traded up $0.43 during midday trading on Tuesday, reaching $54.16. 2,546,800 shares of the company traded hands, compared to its average volume of 1,927,100. Zions Bancorp has a one year low of $38.43 and a one year high of $54.22. The stock has a market cap of $10,680.00, a PE ratio of 20.28, a PEG ratio of 1.63 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 related news, EVP Keith D. Maio sold 13,019 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total transaction of $1,086,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,979 shares of company stock valued at $2,057,927 in the last ninety days. 1.46% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its holdings in Zions Bancorp by 2,081.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after buying an additional 2,872 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in Zions Bancorp during the 2nd quarter worth approximately $175,000. RNC Capital Management LLC acquired a new stake in Zions Bancorp during the 4th quarter worth approximately $203,000. Conning Inc. acquired a new stake in Zions Bancorp during the 3rd quarter worth approximately $210,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Zions Bancorp during the 3rd quarter worth approximately $212,000. Institutional investors own 92.51% 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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