Shares of Zions Bancorp (NASDAQ:ZION) have received an average rating of “Buy” from the twenty-three ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $58.15.
Several equities research analysts have recently issued reports on the company. Piper Jaffray Companies upgraded Zions Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a report on Tuesday. Raymond James raised their price objective on Zions Bancorp from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, October 24th. Deutsche Bank decreased their price objective on Zions Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Finally, BMO Capital Markets decreased their price objective on Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd.
In related news, insider Mark Richard Young sold 2,538 shares of Zions Bancorp stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $53.32, for a total value of $135,326.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider A Scott Anderson sold 12,000 shares of Zions Bancorp stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $47.30, for a total value of $567,600.00. The disclosure for this sale can be found here. Insiders sold 24,965 shares of company stock worth $1,230,717 in the last quarter. 1.60% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. raised its position in Zions Bancorp by 13.5% in the third quarter. Alps Advisors Inc. now owns 9,343 shares of the bank’s stock valued at $469,000 after purchasing an additional 1,108 shares during the period. Janney Montgomery Scott LLC raised its position in Zions Bancorp by 11.5% in the second quarter. Janney Montgomery Scott LLC now owns 11,794 shares of the bank’s stock valued at $621,000 after purchasing an additional 1,215 shares during the period. MainStreet Investment Advisors LLC raised its position in Zions Bancorp by 1.9% in the third quarter. MainStreet Investment Advisors LLC now owns 65,772 shares of the bank’s stock valued at $3,298,000 after purchasing an additional 1,254 shares during the period. Financial Counselors Inc. raised its position in Zions Bancorp by 3.2% in the second quarter. Financial Counselors Inc. now owns 42,253 shares of the bank’s stock valued at $2,226,000 after purchasing an additional 1,308 shares during the period. Finally, First Republic Investment Management Inc. raised its position in Zions Bancorp by 9.7% in the second quarter. First Republic Investment Management Inc. now owns 15,176 shares of the bank’s stock valued at $799,000 after purchasing an additional 1,338 shares during the period. Hedge funds and other institutional investors own 94.75% of the company’s stock.
NASDAQ:ZION traded down $0.26 during trading hours on Monday, reaching $50.16. 2,155,856 shares of the company traded hands, compared to its average volume of 3,448,367. The stock has a market cap of $9.66 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 0.82. Zions Bancorp has a 1-year low of $43.50 and a 1-year high of $59.19.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $699.87 million. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, equities research analysts predict that Zions Bancorp will post 4.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, November 13th. Zions Bancorp’s payout ratio is currently 41.96%.
Zions Bancorp Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as 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 servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.