Keefe, Bruyette & Woods reaffirmed their buy rating on shares of Zions Bancorp (NASDAQ:ZION) in a research note released on Friday morning. They currently have a $60.00 target price on the bank’s stock.
Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada upped their price objective on Zions Bancorp from $51.00 to $53.00 and gave the company an outperform rating in a research report on Tuesday, October 24th. B. Riley set a $54.00 price objective on Zions Bancorp and gave the company a buy rating in a research report on Monday, November 20th. FBR & Co reiterated a buy rating and set a $54.00 target price on shares of Zions Bancorp in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of Zions Bancorp from a buy rating to a hold rating in a research note on Thursday, October 5th. Finally, Robert W. Baird upgraded shares of Zions Bancorp from an underperform rating to a neutral rating and set a $43.00 target price for the company in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $50.79.
Shares of Zions Bancorp (NASDAQ ZION) opened at $51.33 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorp has a 12-month low of $38.43 and a 12-month high of $52.20. The company has a market capitalization of $10,250.00, a P/E ratio of 19.22, a PEG ratio of 1.99 and a beta of 1.48.
In other Zions Bancorp news, insider Bruce K. Alexander sold 6,089 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total value of $292,089.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Thomas E. Laursen sold 1,600 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $46.55, for a total value of $74,480.00. The disclosure for this sale can be found here. Insiders sold a total of 43,979 shares of company stock valued at $2,057,927 in the last quarter. 1.46% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new position in shares of Zions Bancorp during the 2nd quarter valued at about $108,000. Americafirst Capital Management LLC bought a new position in shares of Zions Bancorp during the 2nd quarter valued at about $175,000. Conning Inc. bought a new position in shares of Zions Bancorp during the 3rd quarter valued at about $210,000. Janney Montgomery Scott LLC bought a new position in shares of Zions Bancorp during the 3rd quarter valued at about $212,000. Finally, Magnetar Financial LLC bought a new position in shares of Zions Bancorp during the 3rd quarter valued at about $215,000. 92.54% of the stock is owned by institutional investors and hedge funds.
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About Zions Bancorp
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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