Zions Bancorp (ZION) Given Average Rating of “Buy” by Analysts
Shares of Zions Bancorp (NASDAQ:ZION) have received an average rating of “Buy” from the twenty-one brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $58.71.
Several analysts have weighed in on the company. Zacks Investment Research raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, July 16th. Raymond James raised Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. BidaskClub raised Zions Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 price objective on shares of Zions Bancorp in a research note on Thursday, July 12th. Finally, Barclays increased their price objective on Zions Bancorp from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th.
Zions Bancorp stock traded up $0.07 during trading hours on Friday, hitting $52.57. The stock had a trading volume of 5,121,981 shares, compared to its average volume of 1,547,676. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.36. Zions Bancorp has a 1-year low of $43.50 and a 1-year high of $59.19.
In other Zions Bancorp news, insider Rebecca K. Robinson sold 6,361 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $53.75, for a total value of $341,903.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Richard Young sold 2,538 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $53.32, for a total value of $135,326.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,896 shares of company stock worth $1,016,029. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Three Peaks Capital Management LLC purchased a new position in shares of Zions Bancorp in the 1st quarter worth about $112,000. Piedmont Investment Advisors LLC purchased a new position in shares of Zions Bancorp in the 2nd quarter worth about $122,000. NumerixS Investment Technologies Inc purchased a new position in shares of Zions Bancorp in the 2nd quarter worth about $158,000. Tower Research Capital LLC TRC raised its holdings in shares of Zions Bancorp by 1,637.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock worth $183,000 after purchasing an additional 3,275 shares during the period. Finally, Crewe Advisors LLC raised its holdings in shares of Zions Bancorp by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,000 shares of the bank’s stock worth $210,000 after purchasing an additional 2,000 shares during the period. 94.78% of the stock is currently owned by hedge funds and other institutional investors.
Zions Bancorp Company Profile
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
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