Zions Bancorp (NASDAQ:ZION) had its price target hoisted by research analysts at Raymond James from $56.00 to $57.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the bank’s stock. Raymond James’ price target would indicate a potential upside of 20.92% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, October 24th. Deutsche Bank reduced their price target on shares of Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. BMO Capital Markets cut their price objective on shares of Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd. SunTrust Banks upped their price objective on shares of Zions Bancorp to $52.00 and gave the stock a “buy” rating in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Finally, Robert W. Baird upgraded shares of Zions Bancorp from an “underperform” rating to a “neutral” rating and set a $49.00 price objective on the stock in a report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Zions Bancorp currently has a consensus rating of “Hold” and a consensus target price of $58.19.
Shares of NASDAQ ZION traded up $0.10 during midday trading on Monday, hitting $47.14. 88,512 shares of the company traded hands, compared to its average volume of 2,784,092. Zions Bancorp has a 12-month low of $43.50 and a 12-month high of $59.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $9.05 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.35 and a beta of 1.40.
In other news, General Counsel Thomas E. Laursen sold 945 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.73, for a total transaction of $49,829.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Leeanne B. Linderman sold 5,000 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $48.10, for a total transaction of $240,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,896 shares of company stock worth $1,256,529. Corporate insiders own 1.60% of the company’s stock.
Several large investors have recently bought and sold shares of ZION. Russell Investments Group Ltd. lifted its position in Zions Bancorp by 38.4% during the third quarter. Russell Investments Group Ltd. now owns 240,197 shares of the bank’s stock valued at $12,050,000 after purchasing an additional 66,675 shares during the period. Alps Advisors Inc. lifted its position in Zions Bancorp by 13.5% during the third quarter. Alps Advisors Inc. now owns 9,343 shares of the bank’s stock valued at $469,000 after purchasing an additional 1,108 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in Zions Bancorp during the third quarter valued at approximately $8,366,000. First Trust Advisors LP lifted its position in Zions Bancorp by 86.2% during the third quarter. First Trust Advisors LP now owns 480,356 shares of the bank’s stock valued at $24,090,000 after purchasing an additional 222,344 shares during the period. Finally, OLD Second National Bank of Aurora bought a new position in Zions Bancorp during the third quarter valued at approximately $2,452,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.
About Zions Bancorp
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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 services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
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