Zions Bancorporation NA (NASDAQ:ZION) had its target price boosted by Bank of America from $49.00 to $50.00 in a report published on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the bank’s stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Zions Bancorporation NA from a buy rating to a hold rating and set a $46.00 price objective on the stock. in a report on Thursday, June 27th. Barclays decreased their price objective on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods downgraded shares of Zions Bancorporation NA from an outperform rating to a market perform rating and cut their target price for the stock from $53.00 to $47.00 in a research note on Tuesday, July 23rd. Wells Fargo & Co downgraded shares of Zions Bancorporation NA from an outperform rating to a market perform rating and cut their target price for the stock from $62.00 to $50.00 in a research note on Monday, July 22nd. Finally, SunTrust Banks cut their target price on shares of Zions Bancorporation NA to $52.00 and set a reduce rating on the stock in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Zions Bancorporation NA currently has a consensus rating of Hold and a consensus price target of $52.56.
NASDAQ:ZION traded down $0.28 on Tuesday, hitting $41.85. The stock had a trading volume of 1,474,941 shares, compared to its average volume of 2,919,432. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $7.54 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.49. The stock has a fifty day moving average price of $44.70. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $54.76.
Zions Bancorporation NA (NASDAQ:ZION) last posted its earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.10). The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $723.21 million. Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Analysts forecast that Zions Bancorporation NA will post 4.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 14th. Zions Bancorporation NA’s dividend payout ratio (DPR) is 29.41%.
In related news, insider A Scott Anderson sold 10,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander Hume sold 9,929 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $45.17, for a total transaction of $448,492.93. The disclosure for this sale can be found here. Insiders sold a total of 36,615 shares of company stock worth $1,670,161 over the last ninety days. Insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ZION. Charles Schwab Investment Management Inc. lifted its stake in shares of Zions Bancorporation NA by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,318,550 shares of the bank’s stock worth $60,627,000 after acquiring an additional 10,447 shares during the period. Trexquant Investment LP acquired a new stake in shares of Zions Bancorporation NA in the 2nd quarter worth $461,000. Hoylecohen LLC lifted its stake in shares of Zions Bancorporation NA by 16.4% in the 2nd quarter. Hoylecohen LLC now owns 14,175 shares of the bank’s stock worth $652,000 after acquiring an additional 2,000 shares during the period. Schroder Investment Management Group lifted its stake in shares of Zions Bancorporation NA by 0.8% in the 2nd quarter. Schroder Investment Management Group now owns 1,031,443 shares of the bank’s stock worth $47,426,000 after acquiring an additional 7,799 shares during the period. Finally, Edgestream Partners L.P. lifted its stake in shares of Zions Bancorporation NA by 44.6% in the 2nd quarter. Edgestream Partners L.P. now owns 32,418 shares of the bank’s stock worth $1,491,000 after acquiring an additional 9,993 shares during the period. 94.87% of the stock is currently owned by hedge funds and other institutional investors.
Zions Bancorporation NA 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.
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