FBR & Co reissued their outperform rating on shares of Zions Bancorporation (NASDAQ:ZION) in a research report report published on Tuesday. FBR & Co currently has a $49.00 price objective on the stock.
ZION has been the topic of a number of other reports. Bank of America Corporation upgraded Zions Bancorporation from an underperform rating to a neutral rating in a report on Wednesday, December 21st. Zacks Investment Research upgraded Zions Bancorporation from a hold rating to a buy rating and set a $48.00 price target on the stock in a report on Friday, December 16th. Raymond James Financial, Inc. cut Zions Bancorporation from a strong-buy rating to a market perform rating in a report on Thursday, October 6th. Royal Bank Of Canada increased their price target on Zions Bancorporation from $32.00 to $40.00 and gave the stock an outperform rating in a report on Thursday, November 10th. Finally, Credit Suisse Group restated a buy rating and set a $38.00 price target on shares of Zions Bancorporation in a report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $40.18.
Zions Bancorporation (NASDAQ:ZION) traded up 1.64% during trading on Tuesday, hitting $43.26. 381,656 shares of the company traded hands. Zions Bancorporation has a 12-month low of $19.65 and a 12-month high of $44.33. The stock has a 50-day moving average price of $42.97 and a 200-day moving average price of $34.03. The firm has a market capitalization of $8.81 billion, a P/E ratio of 23.77 and a beta of 1.45.
Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings results on Monday, January 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Zions Bancorporation had a return on equity of 6.80% and a net margin of 18.99%. During the same quarter in the previous year, the business posted $0.43 EPS. Equities analysts expect that Zions Bancorporation will post $2.41 EPS for the current fiscal year.
In other news, insider Dianne R. James sold 4,259 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $38.24, for a total transaction of $162,864.16. Following the completion of the transaction, the insider now owns 22,043 shares in the company, valued at approximately $842,924.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dianne R. James sold 630 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $39.82, for a total value of $25,086.60. Following the transaction, the insider now owns 17,854 shares of the company’s stock, valued at approximately $710,946.28. The disclosure for this sale can be found here. Insiders have sold a total of 127,483 shares of company stock valued at $4,575,634 in the last quarter. 2.06% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ZION. Russell Investments Group Ltd. bought a new position in shares of Zions Bancorporation during the fourth quarter valued at approximately $19,481,000. Lederer & Associates Investment Counsel CA bought a new position in shares of Zions Bancorporation during the fourth quarter valued at approximately $524,000. Sheets Smith Wealth Management bought a new position in shares of Zions Bancorporation during the third quarter valued at approximately $858,000. Price T Rowe Associates Inc. MD increased its position in shares of Zions Bancorporation by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 386,473 shares of the company’s stock valued at $11,988,000 after buying an additional 1,200 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of Zions Bancorporation during the third quarter valued at approximately $301,000. Institutional investors and hedge funds own 87.32% of the company’s stock.
Zions Bancorporation Company Profile
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are small and medium-sized business and corporate banking; commercial and residential development, construction and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.