Zions Bancorp (NASDAQ:ZION) was upgraded by UBS Group from a “market perform” rating to an “outperform” rating in a report released on Thursday, The Fly reports.
Several other brokerages have also recently issued reports on ZION. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $60.00 price target on shares of Zions Bancorp in a research report on Friday, December 22nd. Morgan Stanley boosted their price target on shares of Zions Bancorp from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Piper Jaffray Companies reiterated a “hold” rating and set a $49.00 price target on shares of Zions Bancorp in a research report on Tuesday, January 9th. BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $62.00 price target on shares of Zions Bancorp in a research report on Friday, March 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $55.89.
Zions Bancorp (NASDAQ ZION) opened at $54.78 on Thursday. Zions Bancorp has a 52-week low of $38.43 and a 52-week high of $57.29. The stock has a market cap of $10,955.67, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88.
Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The firm had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $670.55 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. equities research analysts expect that Zions Bancorp will post 3.69 EPS for the current fiscal year.
In related news, insider David E. Blackford sold 4,115 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $51.47, for a total transaction of $211,799.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Scott J. Mclean sold 31,309 shares of the business’s stock in a transaction dated 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. Insiders have sold 57,224 shares of company stock worth $3,156,817 in the last three months. 1.46% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Zions Bancorp by 0.9% during the fourth quarter. BlackRock Inc. now owns 13,421,671 shares of the bank’s stock worth $682,222,000 after acquiring an additional 115,554 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Zions Bancorp by 2.2% in the fourth quarter. American Century Companies Inc. now owns 6,301,387 shares of the bank’s stock worth $320,300,000 after buying an additional 136,198 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of Zions Bancorp by 2.0% in the fourth quarter. Thrivent Financial For Lutherans now owns 4,419,086 shares of the bank’s stock worth $224,623,000 after buying an additional 87,684 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Zions Bancorp by 1.8% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,412,016 shares of the bank’s stock worth $173,433,000 after buying an additional 59,927 shares in the last quarter. Finally, Cortland Advisers LLC lifted its stake in shares of Zions Bancorp by 49.6% in the third quarter. Cortland Advisers LLC now owns 3,179,433 shares of the bank’s stock worth $150,006,000 after buying an additional 1,053,900 shares in the last quarter. 94.63% of the stock is currently 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.
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