Zions Bancorp’s (ZION) Buy Rating Reiterated at Keefe, Bruyette & Woods

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.

Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorp had a net margin of 22.70% and a return on equity of 8.54%. During the same period last year, the company posted $0.57 earnings per share. research analysts predict that Zions Bancorp will post 2.8 earnings per share for the current year.

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.

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

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