Zions Bancorporation (NASDAQ:ZION) has earned an average recommendation of “Buy” from the twenty-two brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $49.94.
A number of equities analysts have commented on ZION shares. Robert W. Baird raised shares of Zions Bancorporation from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a report on Friday, September 8th. Sanford C. Bernstein reissued a “market perform” rating and set a $51.00 price target on shares of Zions Bancorporation in a report on Saturday, September 16th. Jefferies Group reissued a “buy” rating and set a $49.00 price target on shares of Zions Bancorporation in a report on Friday, September 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $48.00 price target on shares of Zions Bancorporation in a report on Tuesday, October 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $49.00 price target (up previously from $48.00) on shares of Zions Bancorporation in a report on Wednesday, October 4th.
In related news, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorporation stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Thomas E. Laursen sold 1,600 shares of Zions Bancorporation stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $46.55, for a total transaction of $74,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,979 shares of company stock worth $2,057,927. Company insiders own 1.46% of the company’s stock.
A number of institutional investors have recently modified their holdings of ZION. Balyasny Asset Management LLC raised its position in Zions Bancorporation by 705.8% in the second quarter. Balyasny Asset Management LLC now owns 3,186,472 shares of the bank’s stock worth $139,918,000 after acquiring an additional 2,791,044 shares in the last quarter. Ameriprise Financial Inc. raised its position in Zions Bancorporation by 146.8% in the third quarter. Ameriprise Financial Inc. now owns 2,698,958 shares of the bank’s stock worth $127,330,000 after acquiring an additional 1,605,540 shares in the last quarter. Artemis Investment Management LLP raised its position in Zions Bancorporation by 332.1% in the third quarter. Artemis Investment Management LLP now owns 1,751,662 shares of the bank’s stock worth $82,635,000 after acquiring an additional 1,346,240 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in Zions Bancorporation by 276.0% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,823,738 shares of the bank’s stock worth $80,080,000 after acquiring an additional 1,338,748 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Zions Bancorporation by 16,303.3% in the second quarter. Janus Henderson Group PLC now owns 1,231,071 shares of the bank’s stock worth $54,056,000 after acquiring an additional 1,223,566 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.
Zions Bancorporation (NASDAQ ZION) traded down $0.54 during trading on Friday, reaching $49.22. 2,788,800 shares of the company’s stock were exchanged, compared to its average volume of 2,518,991. The firm has a market capitalization of $9,830.00, a P/E ratio of 18.71, a PEG ratio of 1.92 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a 1 year low of $38.43 and a 1 year high of $52.20.
Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $666.83 million. Zions Bancorporation had a return on equity of 8.54% and a net margin of 22.70%. During the same period in the prior year, the firm earned $0.57 EPS. research analysts predict that Zions Bancorporation will post 2.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th were paid a dividend of $0.16 per share. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, November 14th. Zions Bancorporation’s payout ratio is currently 23.97%.
Zions Bancorporation Company Profile
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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