Shares of Zions Bancorporation NA (NASDAQ:ZION) have been assigned an average rating of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $54.87.
Several research analysts recently commented on the company. ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. BidaskClub cut Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Finally, JPMorgan Chase & Co. cut Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $50.00 in a report on Thursday, April 4th.
Zions Bancorporation NA stock traded down $0.13 during trading hours on Tuesday, reaching $43.99. The stock had a trading volume of 1,181,364 shares, compared to its average volume of 2,335,727. The company has a market capitalization of $8.03 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.12 and a beta of 1.53. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $45.20. Zions Bancorporation NA has a 52 week low of $38.08 and a 52 week high of $54.99.
In other news, insider James R. Abbott sold 1,988 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $45.83, for a total transaction of $91,110.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Keith D. Maio sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $48.67, for a total value of $535,370.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,100 shares of company stock worth $1,424,658 in the last three months. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. ETF Managers Group LLC increased its position in Zions Bancorporation NA by 8.2% during the first quarter. ETF Managers Group LLC now owns 2,744 shares of the bank’s stock worth $125,000 after buying an additional 207 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Zions Bancorporation NA by 0.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 29,218 shares of the bank’s stock worth $1,190,000 after buying an additional 216 shares during the period. CIBC Asset Management Inc increased its position in Zions Bancorporation NA by 1.5% during the first quarter. CIBC Asset Management Inc now owns 22,010 shares of the bank’s stock worth $999,000 after buying an additional 329 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Zions Bancorporation NA by 2.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,827 shares of the bank’s stock worth $627,000 after buying an additional 355 shares during the period. Finally, CSat Investment Advisory L.P. increased its position in Zions Bancorporation NA by 97.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock worth $31,000 after buying an additional 373 shares during the period. 95.12% of the stock is currently owned by institutional investors and hedge funds.
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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