Zions Bancorp (ZION) Receives Average Rating of “Buy” from Analysts

Shares of Zions Bancorp (NASDAQ:ZION) have received an average rating of “Buy” from the twenty-one ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $51.78.

A number of research analysts have recently commented on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $49.00 price target on shares of Zions Bancorp in a report on Tuesday. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Barclays upped their price target on shares of Zions Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 price target on shares of Zions Bancorp in a report on Tuesday, October 3rd. Finally, Robert W. Baird cut shares of Zions Bancorp from a “neutral” rating to an “underperform” rating and set a $43.00 price target on the stock. in a report on Monday, October 2nd.

Zions Bancorp (ZION) traded down $0.25 during midday trading on Tuesday, hitting $50.62. 1,697,600 shares of the stock were exchanged, compared to its average volume of 2,036,300. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $10,380.00, a PE ratio of 18.96, a PEG ratio of 1.72 and a beta of 1.48. Zions Bancorp has a 12-month low of $38.43 and a 12-month high of $52.20.

Zions Bancorp (NASDAQ:ZION) last posted 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). The company had revenue of $661.00 million during 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 company posted $0.57 earnings per share. research analysts forecast that Zions Bancorp will post 2.8 earnings per share for the current year.

In other Zions Bancorp news, insider Joseph L. Reilly sold 23,271 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,979 shares of company stock worth $2,057,927. 1.46% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Zions Bancorp by 4.3% during the second quarter. Vanguard Group Inc. now owns 21,245,566 shares of the bank’s stock valued at $932,892,000 after buying an additional 882,190 shares during the last quarter. State Street Corp lifted its position in shares of Zions Bancorp by 8.7% during the second quarter. State Street Corp now owns 12,373,314 shares of the bank’s stock valued at $543,315,000 after buying an additional 986,548 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Zions Bancorp by 2.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,590,330 shares of the bank’s stock valued at $157,651,000 after buying an additional 68,904 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of Zions Bancorp by 705.8% during the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock valued at $139,918,000 after buying an additional 2,791,044 shares during the last quarter. Finally, Cortland Advisers LLC lifted its position in shares of Zions Bancorp by 49.6% during the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock valued at $150,006,000 after buying an additional 1,053,900 shares during the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.

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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)

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