Zions Bancorp (ZION) Receives Average Recommendation of “Buy” from Analysts

Zions Bancorp (NASDAQ:ZION) has earned an average recommendation of “Buy” from the twenty-three brokerages that are currently covering the stock, MarketBeat.com reports. 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 on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $58.15.

A number of brokerages recently issued reports on ZION. Morgan Stanley decreased their price objective on Zions Bancorp from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, September 18th. ValuEngine lowered Zions Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Piper Jaffray Companies raised Zions Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $57.00 in a report on Tuesday, November 6th. BidaskClub raised Zions Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 4th. Finally, BMO Capital Markets decreased their price objective on Zions Bancorp from $55.00 to $52.00 and set a “market perform” rating for the company in a report on Tuesday, October 23rd.

In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,381 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Richard Young sold 2,538 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $53.32, for a total value of $135,326.16. The disclosure for this sale can be found here. Insiders sold 24,965 shares of company stock valued at $1,230,717 over the last 90 days. 1.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZION. LPL Financial LLC lifted its position in Zions Bancorp by 126.3% in the first quarter. LPL Financial LLC now owns 25,327 shares of the bank’s stock worth $1,336,000 after purchasing an additional 14,135 shares during the period. IFM Investors Pty Ltd acquired a new stake in Zions Bancorp in the second quarter worth approximately $285,000. State of Alaska Department of Revenue lifted its position in Zions Bancorp by 43.6% in the second quarter. State of Alaska Department of Revenue now owns 56,750 shares of the bank’s stock worth $2,988,000 after purchasing an additional 17,230 shares during the period. Trust Co acquired a new stake in shares of Zions Bancorp during the 1st quarter valued at $313,000. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Zions Bancorp during the 2nd quarter valued at $295,000. Hedge funds and other institutional investors own 94.75% of the company’s stock.

Shares of NASDAQ:ZION traded down $0.72 during trading on Monday, hitting $49.44. 1,920,853 shares of the company traded hands, compared to its average volume of 2,301,208. The firm has a market capitalization of $9.64 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.36. Zions Bancorp has a one year low of $43.50 and a one year high of $59.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13.

Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 22nd. The bank reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The company had revenue of $701.00 million during the quarter, compared to analyst estimates of $699.87 million. Zions Bancorp had a return on equity of 11.84% and a net margin of 26.57%. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, analysts predict that Zions Bancorp will post 4.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.43%. Zions Bancorp’s dividend payout ratio (DPR) is 41.96%.

Zions Bancorp 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.

Featured Article: Should You Consider an Index Fund?

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

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.

Leave a Reply