Trading Report: Today: Zions Bancorp (ZION) Rating Increased to Buy at Jefferies Group

Today: Zions Bancorp (ZION) Rating Increased to Buy at Jefferies Group

Zions Bancorp (NASDAQ:ZION) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a report released on Monday.

Other equities research analysts have also issued research reports about the company. Vetr upgraded Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target for the company in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Friday. Credit Suisse Group AG reiterated an “outperform” rating on shares of Zions Bancorp in a research note on Thursday, August 18th. RBC Capital Markets reiterated an “outperform” rating and issued a $40.00 price target (up previously from $32.00) on shares of Zions Bancorp in a research note on Thursday, November 10th. Finally, Macquarie downgraded shares of Zions Bancorp from an “outperform” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Tuesday, November 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.10.

Zions Bancorp (NASDAQ:ZION) opened at 39.10 on Monday. The stock has a 50 day moving average price of $33.83 and a 200 day moving average price of $29.50. Zions Bancorp has a 12-month low of $19.65 and a 12-month high of $39.23.

Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 24th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. Zions Bancorp had a return on equity of 6.16% and a net margin of 17.81%. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts expect that Zions Bancorp will post $1.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 16th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. Zions Bancorp’s payout ratio is currently 17.58%.

In other news, General Counsel Thomas E. Laursen sold 10,000 shares of Zions Bancorp stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $32.26, for a total transaction of $322,600.00. Following the completion of the sale, the general counsel now directly owns 29,737 shares in the company, valued at $959,315.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Richard Young sold 19,893 shares of Zions Bancorp stock in a transaction on Monday, November 7th. The stock was sold at an average price of $32.27, for a total transaction of $641,947.11. Following the sale, the insider now owns 27,156 shares of the company’s stock, valued at $876,324.12. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MAI Capital Management increased its position in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares in the last quarter. Neuberger Berman Group LLC increased its position in Zions Bancorp by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 18,136 shares of the company’s stock worth $456,000 after buying an additional 61 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Zions Bancorp by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 20,924 shares of the company’s stock worth $649,000 after buying an additional 110 shares in the last quarter. IBM Retirement Fund increased its position in Zions Bancorp by 0.7% in the second quarter. IBM Retirement Fund now owns 20,336 shares of the company’s stock worth $511,000 after buying an additional 144 shares in the last quarter. Finally, Advantus Capital Management Inc increased its position in Zions Bancorp by 0.8% in the second quarter. Advantus Capital Management Inc now owns 19,705 shares of the company’s stock worth $495,000 after buying an additional 150 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.

Zions Bancorp Company Profile

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