Zions Bancorporation (NASDAQ:ZION) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.
A number of other equities research analysts also recently commented on ZION. Barclays PLC reissued an “overweight” rating and issued a $50.00 target price (up previously from $48.00) on shares of Zions Bancorporation in a report on Friday, June 16th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 target price on shares of Zions Bancorporation in a report on Monday, June 19th. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 target price on shares of Zions Bancorporation in a report on Thursday, June 8th. Morgan Stanley reissued an “equal weight” rating and issued a $45.00 target price (up previously from $43.00) on shares of Zions Bancorporation in a report on Monday, June 5th. Finally, Piper Jaffray Companies reduced their target price on Zions Bancorporation from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $42.90.
Shares of Zions Bancorporation (NASDAQ:ZION) traded down 0.87% during midday trading on Friday, reaching $41.93. 2,095,947 shares of the company traded hands. The stock has a market capitalization of $8.50 billion, a P/E ratio of 18.88 and a beta of 1.43. The stock’s 50-day moving average is $41.03 and its 200-day moving average is $42.34. Zions Bancorporation has a 1-year low of $23.02 and a 1-year high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, April 24th. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. Zions Bancorporation had a return on equity of 7.44% and a net margin of 20.50%. The company had revenue of $621 million during the quarter, compared to the consensus estimate of $619.90 million. During the same quarter last year, the company earned $0.38 earnings per share. Equities analysts predict that Zions Bancorporation will post $2.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, May 16th. Zions Bancorporation’s dividend payout ratio (DPR) is 14.41%.
In other Zions Bancorporation news, insider David E. Blackford sold 2,090 shares of Zions Bancorporation stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $39.61, for a total value of $82,784.90. Following the completion of the sale, the insider now owns 23,578 shares in the company, valued at approximately $933,924.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Thomas E. Laursen sold 860 shares of Zions Bancorporation stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $41.16, for a total value of $35,397.60. Following the completion of the sale, the general counsel now owns 25,901 shares of the company’s stock, valued at approximately $1,066,085.16. The disclosure for this sale can be found here. Insiders sold a total of 46,184 shares of company stock valued at $1,880,815 in the last 90 days. 1.46% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of ZION. Global X Management Co. LLC boosted its stake in Zions Bancorporation by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock valued at $127,000 after buying an additional 2,335 shares during the period. Segantii Capital Management Ltd acquired a new stake in Zions Bancorporation during the first quarter valued at approximately $151,000. Cypress Capital Management LLC WY acquired a new stake in Zions Bancorporation during the first quarter valued at approximately $169,000. FNY Partners Fund LP acquired a new stake in Zions Bancorporation during the first quarter valued at approximately $188,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Zions Bancorporation by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,494 shares of the bank’s stock valued at $194,000 after buying an additional 124 shares during the period. Institutional investors own 95.42% of the company’s stock.
About Zions Bancorporation
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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