Zions Bancorp (NASDAQ: ZION) had its price target boosted by equities researchers at Credit Suisse Group AG from $32.00 to $36.00. The company currently has a rating of Outperform on the shares. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and the company has secured a consensus one-year price target of $31.27, above the opening price of $30.23. Zions Bancorp stock has a 52-week high of $31.28.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Zions Bancorp (NASDAQ: ZION) shares last traded at $30.08, which represents a spike of $0.18 over the previous closing price. Opening at $30.23, they varied from $30.03 and $30.33 throughout the day.
Zions Bancorp (NASDAQ: ZION) currently has a market cap of 6.17B.
The stock’s average daily volume is 3,335,060 shares out of a total float 201,330,000 and some 607,275 shares crossed the trading desk yesterday, 24 percent below the norm. Investors often use increases in trading volume to determine heavy volume accumulation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
However, a single day of significant buy side trading is not enough to affirm a trend. So market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Zions Bancorp (NASDAQ: ZION) now has a 50-day MA of $29.37 and 200-day MA of $26.89. It has traded in a 52-week range between $19.65 – 31.280 and today’s last price is 0.04% lower than the 52 week high of $31.28.
Earnings growth is a critical factor to look at when investing in stocks and investors seek companies that have raised their earnings by at least 25% over a 3 year period.
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