Zions Bancorp (ZION) Reaches New 12-Month Low at $44.55
Zions Bancorp (NASDAQ:ZION) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $44.55 and last traded at $45.40, with a volume of 181802 shares. The stock had previously closed at $45.89.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, October 24th. ValuEngine downgraded Zions Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub downgraded Zions Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. Piper Jaffray Companies raised Zions Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research note on Tuesday, November 6th. Finally, SunTrust Banks raised their price objective on Zions Bancorp to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $58.57.
The company has a market capitalization of $8.82 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.13.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Tuesday, November 13th. Zions Bancorp’s dividend payout ratio is 41.96%.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,381 shares of Zions Bancorp stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $48.33, for a total value of $66,743.73. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider A Scott Anderson sold 12,000 shares of Zions Bancorp stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $47.30, for a total value of $567,600.00. The disclosure for this sale can be found here. Insiders sold a total of 24,259 shares of company stock worth $1,170,272 in the last three months. Company insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new stake in shares of Zions Bancorp in the 2nd quarter valued at about $122,000. National Pension Service acquired a new stake in shares of Zions Bancorp in the 3rd quarter valued at about $134,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Zions Bancorp in the 2nd quarter valued at about $158,000. Huntington National Bank grew its holdings in shares of Zions Bancorp by 2,443.4% in the 3rd quarter. Huntington National Bank now owns 3,281 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,152 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Zions Bancorp by 1,637.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the bank’s stock valued at $183,000 after acquiring an additional 3,275 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.watchlistnews.com/zions-bancorp-zion-reaches-new-12-month-low-at-44-55/2666395.html.
Zions Bancorp Company Profile (NASDAQ:ZION)
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.
Featured Story: Outstanding Shares, Buying and Selling Stocks
Receive News & Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.