Zions Bancorp (ZION) Stock Price Down 6.8%
Shares of Zions Bancorp (NASDAQ:ZION) were down 6.8% during mid-day trading on Tuesday . The stock traded as low as $23.21 and last traded at $23.22, with a volume of 3,582,190 shares changing hands. The stock had previously closed at $24.92.
Several analysts have issued reports on ZION shares. Credit Suisse Group AG reissued a “buy” rating on shares of Zions Bancorp in a report on Monday, April 18th. Raymond James Financial Inc. raised Zions Bancorp from a “market perform” rating to a “strong-buy” rating in a report on Monday, May 9th. Jefferies Group cut their price target on Zions Bancorp from $28.00 to $27.00 and set a “hold” rating for the company in a report on Tuesday, April 12th. Vetr lowered Zions Bancorp from a “buy” rating to a “hold” rating and set a $27.20 price target for the company. in a report on Tuesday, April 19th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $27.00 price objective on shares of Zions Bancorp in a research report on Tuesday, April 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Zions Bancorp has an average rating of “Buy” and an average price target of $31.64.
The stock has a 50-day moving average of $26.95 and a 200 day moving average of $24.95. The stock has a market cap of $5.05 billion and a P/E ratio of 20.393.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. During the same period in the prior year, the business posted $0.37 earnings per share. Equities analysts expect that Zions Bancorp will post $1.77 EPS for the current year.
In other Zions Bancorp news, EVP Julie G. Castle sold 10,171 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $27.67, for a total value of $281,431.57. Following the transaction, the executive vice president now directly owns 4,284 shares of the company’s stock, valued at approximately $118,538.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David E. Blackford sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $27.77, for a total transaction of $111,080.00. Following the completion of the transaction, the insider now directly owns 37,725 shares in the company, valued at $1,047,623.25. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Zions Bancorp by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 16,813,033 shares of the company’s stock worth $458,996,000 after buying an additional 557,182 shares during the period. Sei Investments Co. raised its position in Zions Bancorp by 130.0% in the fourth quarter. Sei Investments Co. now owns 489,350 shares of the company’s stock worth $13,359,000 after buying an additional 276,589 shares during the period. EJF Capital LLC raised its position in Zions Bancorp by 33.3% in the fourth quarter. EJF Capital LLC now owns 1,000,000 shares of the company’s stock worth $27,300,000 after buying an additional 250,000 shares during the period. Engineers Gate Manager LP acquired a new position in Zions Bancorp during the fourth quarter worth $5,546,000. Finally, Winton Capital Group Ltd raised its position in Zions Bancorp by 113.1% in the fourth quarter. Winton Capital Group Ltd now owns 348,065 shares of the company’s stock worth $9,502,000 after buying an additional 184,769 shares during the period.
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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