Zions Bancorporation (NASDAQ:ZION) has been assigned a $52.00 target price by equities research analysts at Barclays PLC in a research report issued on Tuesday, October 24th, Marketbeat.com reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays PLC’s price objective suggests a potential upside of 18.37% from the company’s current price.
A number of other research firms have also recently weighed in on ZION. Royal Bank of Canada raised their price target on shares of Zions Bancorporation from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. FBR & Co restated a “buy” rating and set a $54.00 price objective on shares of Zions Bancorporation in a research note on Tuesday, October 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Zions Bancorporation in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $49.00 target price (up previously from $48.00) on shares of Zions Bancorporation in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $48.50.
Zions Bancorporation (NASDAQ ZION) opened at $43.93 on Tuesday. The company has a market cap of $8,782.74, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.70 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. Zions Bancorporation has a 12-month low of $35.96 and a 12-month high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. During the same quarter last year, the business posted $0.57 EPS. equities research analysts forecast that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
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In related news, insider Edward Schreiber sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $44.98, for a total transaction of $584,740.00. Following the transaction, the insider now directly owns 51,517 shares of the company’s stock, valued at approximately $2,317,234.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger B. Porter acquired 1,616 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average price of $43.99 per share, for a total transaction of $71,087.84. Following the completion of the acquisition, the director now directly owns 42,001 shares in the company, valued at $1,847,623.99. The disclosure for this purchase can be found here. Insiders sold a total of 16,585 shares of company stock valued at $747,614 in the last 90 days. 1.46% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Zions Bancorporation by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock valued at $932,892,000 after acquiring an additional 882,190 shares during the last quarter. State Street Corp increased its holdings in shares of Zions Bancorporation by 8.7% in the 2nd quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock valued at $543,315,000 after acquiring an additional 986,548 shares during the last quarter. BlackRock Inc. grew its stake in Zions Bancorporation by 4,464.8% during the 1st quarter. BlackRock Inc. now owns 11,741,470 shares of the bank’s stock worth $493,142,000 after buying an additional 11,484,250 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Zions Bancorporation by 2.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock worth $157,651,000 after buying an additional 68,904 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its stake in Zions Bancorporation by 705.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after buying an additional 2,791,044 shares during the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.
Zions Bancorporation 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.
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