Zions Bancorporation NA (NASDAQ:ZION) has received a consensus rating of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $52.56.
Several research analysts recently issued reports on ZION shares. SunTrust Banks reduced their target price on Zions Bancorporation NA to $52.00 and set a “reduce” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Wells Fargo & Co downgraded Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $62.00 to $50.00 in a research note on Monday, July 22nd. BidaskClub upgraded Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded Zions Bancorporation NA from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods downgraded Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $53.00 to $47.00 in a research note on Tuesday, July 23rd.
ZION opened at $41.85 on Wednesday. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Zions Bancorporation NA has a 12 month low of $38.08 and a 12 month high of $54.76. The stock has a fifty day moving average of $44.70.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be paid a $0.34 dividend. This is an increase from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.25%. Zions Bancorporation NA’s dividend payout ratio is presently 29.41%.
In other Zions Bancorporation NA news, insider Alexander Hume sold 9,929 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $45.17, for a total transaction of $448,492.93. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider A Scott Anderson sold 10,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. The disclosure for this sale can be found here. Insiders sold 36,615 shares of company stock worth $1,670,161 in the last 90 days. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of ZION. LSV Asset Management boosted its position in Zions Bancorporation NA by 86.9% during the first quarter. LSV Asset Management now owns 5,153,339 shares of the bank’s stock worth $234,013,000 after purchasing an additional 2,395,500 shares in the last quarter. Wells Fargo & Company MN boosted its position in Zions Bancorporation NA by 42.5% during the second quarter. Wells Fargo & Company MN now owns 3,258,511 shares of the bank’s stock worth $149,826,000 after purchasing an additional 971,840 shares in the last quarter. Clark Capital Management Group Inc. boosted its position in Zions Bancorporation NA by 3,378.7% during the first quarter. Clark Capital Management Group Inc. now owns 589,599 shares of the bank’s stock worth $26,774,000 after purchasing an additional 572,650 shares in the last quarter. Acadian Asset Management LLC boosted its position in Zions Bancorporation NA by 169.6% during the first quarter. Acadian Asset Management LLC now owns 681,034 shares of the bank’s stock worth $30,926,000 after purchasing an additional 428,389 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in Zions Bancorporation NA by 34.4% during the first quarter. Ceredex Value Advisors LLC now owns 1,590,350 shares of the bank’s stock worth $72,218,000 after purchasing an additional 407,050 shares in the last quarter. Institutional investors own 94.87% of the company’s stock.
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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