UBS upgraded shares of Zions Bancorp (NASDAQ:ZION) from a market perform rating to an outperform rating in a research note published on Thursday, The Fly reports.
A number of other brokerages have also issued reports on ZION. Piper Jaffray Companies reiterated a hold rating on shares of Zions Bancorp in a report on Tuesday, March 6th. B. Riley restated a buy rating and set a $64.00 price target (up previously from $60.00) on shares of Zions Bancorp in a report on Tuesday, February 27th. Sandler O’Neill restated a buy rating and set a $62.00 price target on shares of Zions Bancorp in a report on Friday, March 9th. Barclays raised their price target on shares of Zions Bancorp from $56.00 to $59.00 and gave the stock an overweight rating in a report on Friday, March 2nd. Finally, BMO Capital Markets raised their price target on shares of Zions Bancorp and gave the stock a market perform rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $56.15.
Zions Bancorp (NASDAQ ZION) opened at $55.52 on Thursday. The stock has a market cap of $10,759.16, a P/E ratio of 21.35, a P/E/G ratio of 1.61 and a beta of 1.37. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $57.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were paid a $0.20 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s payout ratio is currently 30.77%.
In other news, President Scott J. Mclean sold 31,309 shares of Zions Bancorp stock in a transaction on Monday, February 26th. The shares were sold at an average price of $56.15, for a total value of $1,758,000.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Thomas E. Laursen sold 1,250 shares of Zions Bancorp stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $54.28, for a total transaction of $67,850.00. The disclosure for this sale can be found here. Insiders sold a total of 57,224 shares of company stock valued at $3,156,817 in the last quarter. 1.46% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Zions Bancorp in the 4th quarter valued at $102,000. Delpha Capital Management LLC bought a new stake in shares of Zions Bancorp in the 4th quarter valued at $107,000. G&S Capital LLC bought a new stake in shares of Zions Bancorp in the 4th quarter valued at $115,000. Tower Research Capital LLC TRC increased its stake in shares of Zions Bancorp by 1,274.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after acquiring an additional 2,562 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Zions Bancorp by 2,081.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock valued at $152,000 after acquiring an additional 2,872 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.
Zions Bancorp 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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