Zions Bancorporation (NASDAQ:ZION) was downgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday. They currently have a $43.00 price target on the bank’s stock, down from their previous price target of $46.12. Robert W. Baird’s price target indicates a potential downside of 6.13% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets restated a “hold” rating and set a $47.00 price target on shares of Zions Bancorporation in a report on Thursday, July 27th. FIG Partners restated an “outperform” rating and set a $54.00 price target (up from $50.00) on shares of Zions Bancorporation in a report on Wednesday, July 26th. BidaskClub cut shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation in a report on Friday, July 14th. Finally, Jefferies Group LLC restated a “buy” rating and set a $49.00 price target on shares of Zions Bancorporation in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.52.

Zions Bancorporation (ZION) opened at 45.81 on Monday. The company has a 50-day moving average price of $44.20 and a 200-day moving average price of $42.66. The firm has a market cap of $9.26 billion, a PE ratio of 18.24 and a beta of 1.44. Zions Bancorporation has a one year low of $27.77 and a one year high of $48.33.

Zions Bancorporation (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The business had revenue of $660 million for the quarter, compared to analysts’ expectations of $640.34 million. During the same period in the previous year, the company posted $0.44 EPS. Equities analysts predict that Zions Bancorporation will post $2.82 earnings per share for the current fiscal year.

Zions Bancorporation declared that its board has initiated a stock buyback program on Wednesday, June 28th that allows the company to repurchase $465.00 million in shares. This repurchase authorization allows the bank to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: This report was posted by Daily Political and is the property of of Daily Political. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/09/zions-bancorporation-zion-rating-lowered-to-underperform-at-robert-w-baird.html.

In related news, insider David E. Blackford sold 942 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $40.44, for a total value of $38,094.48. Following the completion of the transaction, the insider now owns 29,415 shares of the company’s stock, valued at $1,189,542.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $46.38, for a total transaction of $46,380.00. Following the completion of the transaction, the general counsel now directly owns 23,484 shares of the company’s stock, valued at approximately $1,089,187.92. The disclosure for this sale can be found here. Insiders sold 26,779 shares of company stock valued at $1,128,012 in the last three months. Company insiders own 1.46% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in shares of Zions Bancorporation during the second quarter valued at $108,000. Global X Management Co. LLC boosted its stake in shares of Zions Bancorporation by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock valued at $127,000 after buying an additional 2,335 shares in the last quarter. Exane Derivatives purchased a new stake in shares of Zions Bancorporation during the second quarter valued at $132,000. Segantii Capital Management Ltd purchased a new stake in shares of Zions Bancorporation during the first quarter valued at $151,000. Finally, Cypress Capital Management LLC WY purchased a new stake in shares of Zions Bancorporation during the first quarter valued at $169,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation Company Profile

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 Bancorporation (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.