UBS upgraded shares of Zions Bancorp (NASDAQ:ZION) from a market perform rating to an outperform rating in a report released on Thursday, March 15th, The Fly reports.
Several other brokerages have also recently commented on ZION. Piper Jaffray reiterated a hold rating on shares of Zions Bancorp in a research note on Tuesday, March 6th. B. Riley reiterated a buy rating and issued a $64.00 price objective (up previously from $60.00) on shares of Zions Bancorp in a research note on Tuesday, February 27th. Sandler O’Neill reiterated a buy rating and issued a $62.00 price objective on shares of Zions Bancorp in a research note on Friday, March 9th. Barclays raised their price objective on shares of Zions Bancorp from $56.00 to $59.00 and gave the company an overweight rating in a research note on Friday, March 2nd. Finally, BMO Capital Markets lifted their target price on shares of Zions Bancorp and gave the stock a market perform rating in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $56.67.
Shares of NASDAQ:ZION opened at $51.44 on Thursday. The stock has a market capitalization of $10,393.64, a PE ratio of 17.99, a PEG ratio of 1.55 and a beta of 1.38. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $57.29.
Zions Bancorp (NASDAQ:ZION) last issued its earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The business had revenue of $665.00 million for the quarter, compared to the consensus estimate of $670.55 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. equities analysts predict that Zions Bancorp will post 3.7 earnings per share for the current fiscal year.
In related news, insider Steven Dan Stephens sold 7,100 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $54.87, for a total value of $389,577.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $56.15, for a total transaction of $1,758,000.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,224 shares of company stock valued at $3,156,817. 1.46% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Principal Financial Group Inc. grew its stake in Zions Bancorp by 33.0% during the third quarter. Principal Financial Group Inc. now owns 424,696 shares of the bank’s stock worth $20,037,000 after buying an additional 105,440 shares during the period. Alps Advisors Inc. purchased a new stake in Zions Bancorp during the third quarter worth approximately $512,000. BNP Paribas Arbitrage SA grew its stake in Zions Bancorp by 64.7% during the third quarter. BNP Paribas Arbitrage SA now owns 143,294 shares of the bank’s stock worth $6,761,000 after buying an additional 56,278 shares during the period. Toronto Dominion Bank grew its stake in Zions Bancorp by 11.8% during the third quarter. Toronto Dominion Bank now owns 76,709 shares of the bank’s stock worth $3,619,000 after buying an additional 8,070 shares during the period. Finally, Rhumbline Advisers grew its stake in Zions Bancorp by 0.8% during the third quarter. Rhumbline Advisers now owns 360,111 shares of the bank’s stock worth $16,990,000 after buying an additional 2,732 shares during the period. Institutional investors own 94.63% 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.
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