Zions Bancorp (ZION) Price Target Increased to $0.00 by Analysts at BMO Capital Markets

Zions Bancorp (NASDAQ:ZION) had its price objective upped by analysts at BMO Capital Markets in a research note issued on Tuesday. The brokerage presently has a “market perform” rating on the bank’s stock.

ZION has been the topic of a number of other reports. Jefferies Group reissued a “buy” rating and set a $54.00 price target on shares of Zions Bancorp in a research note on Thursday, October 12th. Royal Bank of Canada lifted their price target on 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 set a $65.00 price target (up from $60.00) on shares of Zions Bancorp in a research note on Tuesday. BidaskClub lowered Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Finally, Barclays lifted their price target on Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.28.

Shares of Zions Bancorp (ZION) traded up $0.01 during mid-day trading on Tuesday, hitting $54.17. The stock had a trading volume of 2,941,449 shares, compared to its average volume of 1,994,720. Zions Bancorp has a 12-month low of $38.43 and a 12-month high of $54.88. The firm has a market capitalization of $10,820.00, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05.

Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $666.83 million. During the same period in the previous year, the business posted $0.57 earnings per share. analysts forecast that Zions Bancorp will post 2.8 EPS for the current year.

In related news, insider Bruce K. Alexander sold 6,089 shares of Zions Bancorp stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total value of $292,089.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,979 shares of company stock worth $2,057,927. 1.46% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hennessy Advisors Inc. acquired a new position in Zions Bancorp in the fourth quarter valued at approximately $1,067,000. Steward Partners Investment Advisory LLC lifted its stake in Zions Bancorp by 2,081.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after buying an additional 2,872 shares during the period. State of Alaska Department of Revenue lifted its stake in Zions Bancorp by 40.8% in the fourth quarter. State of Alaska Department of Revenue now owns 34,280 shares of the bank’s stock valued at $1,741,000 after buying an additional 9,940 shares during the period. Westpac Banking Corp lifted its stake in Zions Bancorp by 28.2% in the fourth quarter. Westpac Banking Corp now owns 63,167 shares of the bank’s stock valued at $3,211,000 after buying an additional 13,900 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in Zions Bancorp by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,142,153 shares of the bank’s stock valued at $58,056,000 after buying an additional 43,021 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

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Zions Bancorp Company Profile

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)