Somewhat Favorable News Coverage Somewhat Unlikely to Affect Zions Bancorporation (ZION) Stock Price
News headlines about Zions Bancorporation (NASDAQ:ZION) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Zions Bancorporation earned a daily sentiment score of 0.20 on Accern’s scale. Accern also assigned news articles about the bank an impact score of 45.4788653478255 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media stories that may have impacted Accern’s rankings:
- Insider Selling: Zions Bancorporation (ZION) Insider Sells 1,585 Shares of Stock (americanbankingnews.com)
- Zions Bancorporation (ZION) Position Decreased by Susquehanna International Group, Llp Last Quarter (highlightpress.com)
- Edward Schreiber Sells 13,000 Shares of Zions Bancorporation (ZION) Stock (americanbankingnews.com)
- WESPAC Advisors LLC Acquires 2294 Shares of Johnson & Johnson (JNJ) (vothemes.com)
- Zions Bancorporation: Historical Yields Show An Overvalued Stock (seekingalpha.com)
Zions Bancorporation (NASDAQ:ZION) traded down 0.02% during trading on Wednesday, hitting $45.12. The company’s stock had a trading volume of 1,506,883 shares. The company has a 50-day moving average of $44.76 and a 200 day moving average of $42.80. The firm has a market cap of $9.12 billion, a PE ratio of 17.96 and a beta of 1.44. Zions Bancorporation has a one year low of $28.29 and a one year high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last announced its earnings results on Tuesday, July 25th. The bank reported $0.73 EPS for the quarter, beating 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 business had revenue of $660 million during the quarter, compared to analysts’ expectations of $640.34 million. During the same period in the prior year, the company earned $0.44 earnings per share. On average, equities analysts forecast that Zions Bancorporation will post $2.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, August 15th. Zions Bancorporation’s dividend payout ratio is presently 12.75%.
Zions Bancorporation declared that its board has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $465.00 million in shares. This buyback authorization permits the bank to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
ZION has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price on shares of Zions Bancorporation in a research report on Friday, May 19th. Deutsche Bank AG raised Zions Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $46.00 in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) cut Zions Bancorporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $48.00 to $44.00 in a research report on Wednesday, May 24th. Barclays PLC increased their target price on Zions Bancorporation from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. Finally, FIG Partners increased their target price on Zions Bancorporation from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.33.
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In related news, insider Joseph L. Reilly sold 11,972 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $40.24, for a total transaction of $481,753.28. Following the completion of the transaction, the insider now directly owns 67,791 shares of the company’s stock, valued at $2,727,909.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne R. James sold 1,585 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $45.22, for a total transaction of $71,673.70. Following the transaction, the insider now directly owns 21,866 shares of the company’s stock, valued at $988,780.52. The disclosure for this sale can be found here. Insiders have sold 40,422 shares of company stock valued at $1,746,332 over the last three months. 1.46% of the stock is currently owned by corporate insiders.
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.
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