UBS AG Raises Zions Bancorporation to Buy (ZION)
Zions Bancorporation (NASDAQ: ZION) was upgraded by research analysts at UBS AG (NYSE: UBS) from a “neutral” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $22.00 target price on the stock, down from their previous target price of $40.00.
Zions Bancorporation traded up 1.40% on Tuesday, hitting $18.06. 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 $3.327 billion and a price-to-earnings ratio of 19.99.
Zions Bancorporation last posted its quarterly 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. Analysts expect that Zions Bancorporation will post $0.38 EPS next quarter.
ZION has been the subject of a number of other recent research reports. Analysts at DA Davidson upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at BMO Capital Markets downgraded shares of Zions Bancorporation from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. They now have a $50.00 price target on the stock, up previously from $21.00. Finally, analysts at FBR Capital (NASDAQ: FBCM) downgraded shares of Zions Bancorporation from an “outperform” rating to a “market perform” rating in a research note to investors on Monday.
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.