BMO Capital Markets reiterated their hold rating on shares of Zions Bancorporation (NASDAQ:ZION) in a report issued on Thursday. BMO Capital Markets currently has a $47.00 price target on the bank’s stock.

Other equities analysts have also issued research reports about the stock. Barclays PLC boosted their price objective on shares of Zions Bancorporation from $45.00 to $48.00 and gave the stock an overweight rating in a report on Tuesday, April 25th. Keefe, Bruyette & Woods restated a hold rating and issued a $46.00 target price on shares of Zions Bancorporation in a research note on Friday, July 14th. BidaskClub lowered shares of Zions Bancorporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. Morgan Stanley restated an equal weight rating and issued a $45.00 target price (up previously from $43.00) on shares of Zions Bancorporation in a research note on Monday, June 5th. Finally, FIG Partners upped their target price on shares of Zions Bancorporation from $49.00 to $50.00 and gave the company an outperform rating in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $43.55.

Shares of Zions Bancorporation (ZION) opened at 45.26 on Thursday. The firm has a 50-day moving average price of $43.81 and a 200-day moving average price of $42.58. The firm has a market capitalization of $9.15 billion, a PE ratio of 18.02 and a beta of 1.44. Zions Bancorporation has a 1-year low of $26.74 and a 1-year high of $48.33.

Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.11. Zions Bancorporation had a net margin of 21.97% and a return on equity of 8.14%. The firm had revenue of $660 million for the quarter, compared to analyst estimates of $640.34 million. During the same quarter in the previous year, the business posted $0.44 EPS. On average, analysts forecast that Zions Bancorporation will post $2.81 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/bmo-capital-markets-reaffirms-hold-rating-for-zions-bancorporation-zion/1463456.html.

Zions Bancorporation declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $465.00 million in shares. This repurchase authorization permits the bank to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be given a $0.12 dividend. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 15th. This represents a $0.48 annualized dividend and a yield of 1.06%. Zions Bancorporation’s dividend payout ratio is 12.75%.

In other Zions Bancorporation news, General Counsel Thomas E. Laursen sold 860 shares of the company’s 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 transaction, the general counsel now owns 25,901 shares in the company, valued at approximately $1,066,085.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David E. Blackford sold 2,090 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $39.61, for a total transaction of $82,784.90. Following the completion of the transaction, the insider now owns 23,578 shares of the company’s stock, valued at approximately $933,924.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,184 shares of company stock valued at $1,880,815. 1.46% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Zions Bancorporation by 3.8% in the first quarter. Vanguard Group Inc. now owns 20,363,376 shares of the bank’s stock worth $855,261,000 after buying an additional 754,639 shares in the last quarter. BlackRock Inc. increased its position in Zions Bancorporation by 4,464.8% in the first quarter. BlackRock Inc. now owns 11,741,470 shares of the bank’s stock worth $493,142,000 after buying an additional 11,484,250 shares in the last quarter. American Century Companies Inc. increased its position in Zions Bancorporation by 11.6% in the first quarter. American Century Companies Inc. now owns 6,598,091 shares of the bank’s stock worth $277,120,000 after buying an additional 684,015 shares in the last quarter. Alliancebernstein L.P. increased its position in Zions Bancorporation by 2.9% in the first quarter. Alliancebernstein L.P. now owns 3,285,312 shares of the bank’s stock worth $137,983,000 after buying an additional 91,786 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Zions Bancorporation by 9.3% in the first quarter. Geode Capital Management LLC now owns 2,158,321 shares of the bank’s stock worth $90,556,000 after buying an additional 183,595 shares in the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.

Zions Bancorporation 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.

Analyst Recommendations for Zions Bancorporation (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation and related companies with Analyst Ratings Network's FREE daily email newsletter.