Zions Bancorporation (ZION) Earns Hold Rating from BMO Capital Markets
Zions Bancorporation (NASDAQ:ZION)‘s stock had its “hold” rating reaffirmed by investment analysts at BMO Capital Markets in a research note issued on Wednesday. They presently have a $53.00 target price on the bank’s stock. BMO Capital Markets’ target price would indicate a potential upside of 4.15% from the company’s previous close.
A number of other research analysts have also commented on the company. BidaskClub lowered Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods raised Zions Bancorporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. B. Riley set a $54.00 price objective on Zions Bancorporation and gave the company a “buy” rating in a report on Monday, November 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Zions Bancorporation in a report on Tuesday, October 24th. Finally, Barclays set a $52.00 price objective on Zions Bancorporation and gave the company an “overweight” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $50.16.
Zions Bancorporation (ZION) opened at $50.89 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a 1-year low of $38.43 and a 1-year high of $52.20. The company has a market capitalization of $9,989.19, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.93 and a beta of 1.48.
In related news, insider Joseph L. Reilly sold 23,271 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $46.70, for a total value of $1,086,755.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Keith D. Maio sold 13,019 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.44, for a total value of $604,602.36. The disclosure for this sale can be found here. Insiders sold 43,979 shares of company stock worth $2,057,927 over the last ninety days. 1.46% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new position in Zions Bancorporation in the second quarter valued at about $108,000. Americafirst Capital Management LLC bought a new position in Zions Bancorporation in the second quarter valued at about $175,000. Global X Management Co. LLC raised its position in Zions Bancorporation by 58.6% in the second quarter. Global X Management Co. LLC now owns 4,792 shares of the bank’s stock valued at $210,000 after purchasing an additional 1,771 shares during the last quarter. Conning Inc. bought a new position in Zions Bancorporation in the third quarter valued at about $210,000. Finally, Janney Montgomery Scott LLC bought a new position in Zions Bancorporation in the third quarter valued at about $212,000. 92.54% of the stock is currently owned by institutional investors and hedge funds.
About Zions Bancorporation
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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