BidaskClub Downgrades Zions Bancorp (ZION) to Hold

Zions Bancorp (NASDAQ:ZION) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday, January 5th.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods upgraded Zions Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Wednesday, December 27th. Royal Bank of Canada increased their target price on Zions Bancorp from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. B. Riley set a $54.00 target price on Zions Bancorp and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, Barclays increased their target price on Zions Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $52.12.

Shares of Zions Bancorp (NASDAQ:ZION) traded up $0.17 during midday trading on Friday, hitting $53.28. The stock had a trading volume of 1,634,402 shares, compared to its average volume of 1,623,349. 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 Bancorp has a 12-month low of $38.43 and a 12-month high of $53.77. The stock has a market capitalization of $10,608.39, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.

Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $661.00 million during the quarter, compared to analysts’ expectations 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 company posted $0.57 earnings per share. research analysts expect that Zions Bancorp will post 2.8 EPS for the current year.

In other Zions Bancorp news, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorp stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total transaction of $1,086,755.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of Zions Bancorp stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total value of $604,602.36. 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 quarter. Company insiders own 1.46% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new position in shares of Zions Bancorp in the 2nd quarter valued at about $108,000. Americafirst Capital Management LLC purchased a new position in shares of Zions Bancorp in the 2nd quarter valued at about $175,000. Conning Inc. purchased a new position in shares of Zions Bancorp in the 3rd quarter valued at about $210,000. Janney Montgomery Scott LLC purchased a new position in shares of Zions Bancorp in the 3rd quarter valued at about $212,000. Finally, Magnetar Financial LLC purchased a new position in shares of Zions Bancorp in the 3rd quarter valued at about $215,000. 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.

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

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