Zions Bancorp (NASDAQ:ZION) had its price target upped by equities research analysts at Royal Bank of Canada to $60.00 in a research report issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 10.76% from the company’s current price.
A number of other research firms also recently weighed in on ZION. Keefe, Bruyette & Woods restated a “buy” rating and set a $60.00 target price on shares of Zions Bancorp in a research report on Friday, December 22nd. Piper Jaffray Companies restated a “hold” rating and set a $49.00 target price on shares of Zions Bancorp in a research report on Tuesday, January 9th. BidaskClub downgraded Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Wednesday, December 27th. Finally, BMO Capital Markets restated a “hold” rating and set a $53.00 target price on shares of Zions Bancorp in a research report on Wednesday, December 20th. One equities research 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 stock currently has an average rating of “Buy” and a consensus target price of $54.28.
Zions Bancorp (NASDAQ ZION) traded up $0.01 during mid-day trading on Tuesday, hitting $54.17. The stock had a trading volume of 2,940,000 shares, compared to its average volume of 1,890,000. The company has a market capitalization of $10,820.00, a P/E ratio of 20.29, a P/E/G ratio of 1.63 and a beta of 1.48. Zions Bancorp has a 12 month low of $38.43 and a 12 month high of $54.88. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorp had a return on equity of 8.54% and a net margin of 22.70%. During the same quarter in the previous year, the firm earned $0.57 EPS. analysts predict that Zions Bancorp will post 2.8 EPS for the current year.
In other Zions Bancorp news, insider Bruce K. Alexander sold 6,089 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total value of $292,089.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction dated 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. Insiders sold 43,979 shares of company stock valued at $2,057,927 in the last quarter. 1.46% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ZION. Nationwide Fund Advisors increased its holdings in shares of Zions Bancorp by 63.1% in the second quarter. Nationwide Fund Advisors now owns 145,012 shares of the bank’s stock worth $6,367,000 after acquiring an additional 56,116 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Zions Bancorp by 11.7% in the second quarter. PNC Financial Services Group Inc. now owns 17,736 shares of the bank’s stock worth $780,000 after acquiring an additional 1,855 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Zions Bancorp in the second quarter worth about $1,414,000. UBS Asset Management Americas Inc. increased its holdings in shares of Zions Bancorp by 212.7% in the second quarter. UBS Asset Management Americas Inc. now owns 505,353 shares of the bank’s stock worth $22,190,000 after acquiring an additional 343,749 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Zions Bancorp by 6.7% in the second quarter. Northern Trust Corp now owns 2,189,740 shares of the bank’s stock worth $96,152,000 after acquiring an additional 137,230 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.
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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.