Zions Bancorp Receives a Hold from BMO Capital

By Ryan Adsit

BMO Capital analyst Lana Chan reiterated a Hold rating on Zions Bancorp (NASDAQ: ZION) on July 9 and set a price target of $55. The company’s shares closed yesterday at $53.13.

According to TipRanks.com, Chan is a 4-star analyst with an average return of 13.3% and a 70.0% success rate. Chan covers the Financial sector, focusing on stocks such as Westamerica Bancorporation, Huntington Bancshares Inc, and TCF Financial Corporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zions Bancorp with a $59.11 average price target.

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Based on Zions Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $727 million and net profit of $238 million. In comparison, last year the company earned revenue of $690 million and had a net profit of $166 million.

Based on the recent corporate insider activity of 162 insiders, corporate insider sentiment is negative on the stock. Most recently, in April 2018, David Heaney, a Director at ZION bought 7,800 shares for a total of $367,380.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zions Bancorporation engages in the provision of banking and related services and offers commercial, retail banking and mortgage lending products & services. Its products involves personal banking services to individuals, including home mortgages, bankcard, other installment loans, home equity lines of credit, checking accounts, savings accounts, certificates of deposit of various types and maturities, trust services, safe deposit facilities, direct deposit, and Internet & mobile banking. The company was founded in April 1955 and is headquartered in Salt Lake City, UT.