FBR Capital Lowers Zions Bancorporation to Market Perform (ZION)
Zions Bancorporation (NASDAQ: ZION) was downgraded by investment analysts at FBR Capital (NASDAQ: FBCM) from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday.
Shares of Zions Bancorporation traded up 1.87% during mid-day trading on Monday, hitting $17.94. Zions Bancorporation has a 52 week low of $13.18 and a 52 week high of $24.71. The company has a market cap of $3.304 billion and a P/E ratio of 19.76.
Zions Bancorporation last announced its earnings results on Monday, April 23rd. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.05. On average, analysts predict that Zions Bancorporation will post $0.38 earnings per share next quarter.
A number of other firms have also recently commented on ZION. Analysts at Bank of America (NYSE: BAC) cut their price target on shares of Zions Bancorporation from $22.00 to $21.00 in a research note to investors on Tuesday, April 24th. Separately, analysts at Goldman Sachs (NYSE: GS) cut their price target on shares of Zions Bancorporation to $17.25 in a research note to investors on Tuesday, April 24th. Finally, analysts at Compass Point reiterated a “neutral” rating on shares of Zions Bancorporation in a research note to investors on Tuesday, April 24th.
Zions Bancorporation is a financial holding company. The Company focuses on providing community banking services by continuously strengthening its core business lines of 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; trust and wealth management, and investment activities.