Zions Bancorp (ZION) Shares Gap Up to $23.99
Shares of Zions Bancorp (NASDAQ:ZION) gapped up before the market opened on Thursday . The stock had previously closed at $23.86, but opened at $23.99. Zions Bancorp shares last traded at $24.23, with a volume of 2,724,856 shares.
A number of analysts have weighed in on the stock. Compass Point cut shares of Zions Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $27.00 in a report on Wednesday, April 13th. Credit Suisse Group AG reissued a “buy” rating on shares of Zions Bancorp in a report on Monday, April 18th. Vetr cut shares of Zions Bancorp from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a report on Wednesday, April 27th. TheStreet cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Zions Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Zions Bancorp currently has a consensus rating of “Buy” and an average target price of $31.64.
The firm’s 50-day moving average is $26.87 and its 200 day moving average is $24.94. The firm has a market cap of $4.99 billion and a PE ratio of 20.17.
Zions Bancorp (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 25th. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. During the same period in the previous year, the company earned $0.37 earnings per share. On average, equities research analysts expect that Zions Bancorp will post $1.77 EPS for the current year.
In other news, Director Edward F. Murphy acquired 3,200 shares of the company’s stock in a transaction on Thursday, April 28th. The stock was purchased at an average cost of $27.77 per share, with a total value of $88,864.00. Following the acquisition, the director now owns 7,935 shares of the company’s stock, valued at approximately $220,354.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dallas E. Haun sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $25.79, for a total value of $64,475.00. Following the sale, the insider now directly owns 28,464 shares of the company’s stock, valued at $734,086.56. The disclosure for this sale can be found here.
Other hedge funds have recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Zions Bancorp by 0.5% in the fourth quarter. Swiss National Bank now owns 267,800 shares of the company’s stock valued at $7,311,000 after buying an additional 1,200 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Zions Bancorp by 2.3% in the fourth quarter. TCI Wealth Advisors Inc. now owns 62,471 shares of the company’s stock valued at $1,705,000 after buying an additional 1,417 shares during the last quarter. Rhumbline Advisers raised its position in Zions Bancorp by 1.4% in the fourth quarter. Rhumbline Advisers now owns 254,056 shares of the company’s stock valued at $6,936,000 after buying an additional 3,423 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in Zions Bancorp by 1.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 229,426 shares of the company’s stock valued at $6,264,000 after buying an additional 4,282 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Zions Bancorp by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 388,517 shares of the company’s stock valued at $10,607,000 after buying an additional 5,939 shares during the last quarter.
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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