Shares of Zions Bancorp (NASDAQ:ZION) have been assigned an average rating of “Buy” from the twenty-one analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $59.33.
A number of equities analysts have weighed in on ZION shares. BMO Capital Markets cut their target price on shares of Zions Bancorp from $55.00 to $53.00 and set a “market perform” rating for the company in a research report on Tuesday. Raymond James upgraded shares of Zions Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, July 10th. Barclays raised their price objective on shares of Zions Bancorp from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 24th. Zacks Investment Research upgraded shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, July 16th. Finally, Morgan Stanley cut their price objective on shares of Zions Bancorp from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday.
Zions Bancorp traded down $0.01, reaching $51.68, on Friday, Marketbeat.com reports. 2,931,841 shares of the company’s stock were exchanged, compared to its average volume of 2,294,867. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $10.16 billion, a PE ratio of 18.07, a P/E/G ratio of 1.41 and a beta of 1.38. Zions Bancorp has a 52 week low of $41.22 and a 52 week high of $59.19.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 16th will be given a dividend of $0.30 per share. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.24. This represents a $1.20 annualized dividend and a yield of 2.32%. Zions Bancorp’s payout ratio is presently 33.57%.
In other Zions Bancorp news, President Scott J. Mclean sold 17,832 shares of Zions Bancorp stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $55.18, for a total transaction of $983,969.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith D. Maio sold 9,987 shares of Zions Bancorp stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $55.54, for a total transaction of $554,677.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,915 shares of company stock valued at $2,174,611. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ZION. Nomura Asset Management Co. Ltd. raised its stake in shares of Zions Bancorp by 3.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 29,702 shares of the bank’s stock worth $1,567,000 after acquiring an additional 933 shares in the last quarter. Bray Capital Advisors raised its stake in shares of Zions Bancorp by 19.4% during the first quarter. Bray Capital Advisors now owns 5,880 shares of the bank’s stock worth $310,000 after acquiring an additional 955 shares in the last quarter. Sawtooth Solutions LLC raised its stake in shares of Zions Bancorp by 16.1% during the first quarter. Sawtooth Solutions LLC now owns 6,889 shares of the bank’s stock worth $363,000 after acquiring an additional 956 shares in the last quarter. Atria Investments LLC raised its stake in shares of Zions Bancorp by 12.5% during the first quarter. Atria Investments LLC now owns 9,673 shares of the bank’s stock worth $510,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Zions Bancorp by 6.1% during the first quarter. Xact Kapitalforvaltning AB now owns 19,895 shares of the bank’s stock worth $1,049,000 after acquiring an additional 1,148 shares in the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.
About Zions Bancorp
Zions Bancorporation, a financial holding company, provides a range of 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; and residential mortgage servicing and lending.
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