Trading Report: Today, Zions Bancorp (ZION) Given New $35.00 Price Target at Deutsche Bank AG

Today, Zions Bancorp (ZION) Given New $35.00 Price Target at Deutsche Bank AG

Zions Bancorp (NASDAQ:ZION) had its price target increased by Deutsche Bank AG from $30.00 to $35.00 in a research report report published on Tuesday. Deutsche Bank AG currently has a hold rating on the stock.

ZION has been the subject of a number of other reports. Zacks Investment Research raised Zions Bancorp from a hold rating to a buy rating and set a $31.00 price objective for the company in a report on Thursday, August 4th. Raymond James Financial Inc. lowered Zions Bancorp from a strong-buy rating to a market perform rating in a report on Thursday, October 6th. Barclays PLC set a $31.00 price objective on Zions Bancorp and gave the stock a buy rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. reissued a hold rating on shares of Zions Bancorp in a report on Saturday, July 9th. Finally, Vetr raised Zions Bancorp from a sell rating to a hold rating and set a $26.45 price objective for the company in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Zions Bancorp has an average rating of Hold and a consensus price target of $32.60.

Zions Bancorp (NASDAQ:ZION) opened at 30.86 on Tuesday. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 18.60 and a beta of 1.54. The stock’s 50 day moving average price is $30.65 and its 200-day moving average price is $27.68. Zions Bancorp has a 52 week low of $19.65 and a 52 week high of $32.15.

Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Zions Bancorp had a return on equity of 5.62% and a net margin of 16.37%. During the same quarter last year, the company posted $0.41 earnings per share. On average, equities research analysts forecast that Zions Bancorp will post $1.85 earnings per share for the current fiscal year.

In other news, insider David E. Blackford sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.81, for a total transaction of $45,052.20. Following the transaction, the insider now directly owns 29,429 shares of the company’s stock, valued at $818,420.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.97, for a total value of $251,730.00. Following the transaction, the executive vice president now directly owns 44,072 shares in the company, valued at $1,232,693.84. The disclosure for this sale can be found here. 2.06% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AXA bought a new position in shares of Zions Bancorp during the first quarter worth about $12,558,000. Pictet Asset Management Ltd. boosted its position in shares of Zions Bancorp by 21.4% in the first quarter. Pictet Asset Management Ltd. now owns 38,079 shares of the company’s stock worth $812,000 after buying an additional 6,700 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Zions Bancorp by 47.4% in the first quarter. Rafferty Asset Management LLC now owns 27,517 shares of the company’s stock worth $666,000 after buying an additional 8,846 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Zions Bancorp by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock worth $121,000 after buying an additional 100 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Zions Bancorp by 109.3% in the first quarter. JPMorgan Chase & Co. now owns 5,031,900 shares of the company’s stock worth $121,823,000 after buying an additional 2,628,142 shares during the period. 87.34% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorp Company Profile

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