Zions Bancorporation (ZION) Given Average Rating of “Buy” by Brokerages
Shares of Zions Bancorporation (NASDAQ:ZION) have earned a consensus rating of “Buy” from the twenty-two analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $49.94.
A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Zions Bancorporation from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Keefe, Bruyette & Woods raised shares of Zions Bancorporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Jefferies Group reissued a “buy” rating and set a $54.00 target price on shares of Zions Bancorporation in a research report on Thursday, October 12th. Robert W. Baird cut shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and set a $43.00 target price for the company. in a research report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th.
In other Zions Bancorporation news, General Counsel Thomas E. Laursen sold 1,600 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $46.55, for a total value of $74,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce K. Alexander sold 6,089 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $47.97, for a total transaction of $292,089.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,979 shares of company stock valued at $2,057,927. Corporate insiders own 1.46% of the company’s stock.
Zions Bancorporation (ZION) traded down $0.54 during midday trading on Friday, hitting $49.22. 2,788,800 shares of the stock were exchanged, compared to its average volume of 2,518,991. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorporation has a 1 year low of $38.43 and a 1 year high of $52.20. The company has a market capitalization of $9,830.00, a P/E ratio of 18.71, a PEG ratio of 1.92 and a beta of 1.48.
Zions Bancorporation (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. The business had revenue of $661.00 million for the quarter, compared to the consensus estimate of $666.83 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. equities research analysts expect that Zions Bancorporation will post 2.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio (DPR) is currently 23.97%.
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About Zions Bancorporation
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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