Trade Report: Today, Zions Bancorp (ZION) Lowered to “Market Perform” at FBR & Co

Today, Zions Bancorp (ZION) Lowered to “Market Perform” at FBR & Co

FBR & Co lowered shares of Zions Bancorp (NASDAQ:ZION) from an outperform rating to a market perform rating in a research note released on Tuesday morning. FBR & Co currently has $32.00 price objective on the stock.

Several other equities research analysts have also commented on the stock. Bank of America Corp. lowered shares of Zions Bancorp from a neutral rating to an underperform rating in a research report on Wednesday, June 29th. Raymond James Financial Inc. lowered shares of Zions Bancorp from a strong-buy rating to a market perform rating in a research report on Thursday, October 6th. Zacks Investment Research upgraded shares of Zions Bancorp from a hold rating to a buy rating and set a $31.00 price objective on the stock in a research report on Thursday, August 4th. Credit Suisse Group AG reiterated an outperform rating on shares of Zions Bancorp in a research report on Thursday, August 18th. Finally, Vetr lowered shares of Zions Bancorp from a hold rating to a sell rating and set a $26.45 target price on the stock. in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $32.60.

Shares of Zions Bancorp (NASDAQ:ZION) opened at 30.86 on Tuesday. The firm has a market capitalization of $6.33 billion, a PE ratio of 18.60 and a beta of 1.54. Zions Bancorp has a 12 month low of $19.65 and a 12 month high of $32.15. The firm’s 50 day moving average is $30.65 and its 200-day moving average is $27.68.

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

In other news, insider Mark Richard Young sold 65,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the transaction, the insider now directly owns 56,245 shares of the company’s stock, valued at $1,165,396.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction on 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 company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Endeavour Capital Advisors Inc. raised its position in shares of Zions Bancorp by 32.3% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,811,553 shares of the company’s stock worth $43,858,000 after buying an additional 442,737 shares during the period. Wellington Management Group LLP raised its position in shares of Zions Bancorp by 4.9% in the first quarter. Wellington Management Group LLP now owns 9,115,604 shares of the company’s stock worth $220,689,000 after buying an additional 429,375 shares during the period. Geode Capital Management LLC raised its position in shares of Zions Bancorp by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,757,949 shares of the company’s stock worth $42,495,000 after buying an additional 32,076 shares during the period. Artemis Investment Management LLP raised its position in shares of Zions Bancorp by 772.6% in the second quarter. Artemis Investment Management LLP now owns 4,122,053 shares of the company’s stock worth $103,567,000 after buying an additional 3,649,671 shares during the period. Finally, Riverhead Capital Management LLC raised its position in shares of Zions Bancorp by 42.2% in the first quarter. Riverhead Capital Management LLC now owns 118,032 shares of the company’s stock worth $2,857,000 after buying an additional 35,046 shares during the period. 87.34% of the stock is currently owned by institutional investors.

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