Zions Bancorp (NASDAQ:ZION) was upgraded by equities research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Other research analysts also recently issued reports about the company. Vetr upgraded Zions Bancorp from a “sell” rating to a “hold” rating and set a $26.45 price target on the stock in a report on Tuesday, August 2nd. Zacks Investment Research upgraded Zions Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, August 4th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $32.00 price target (up from $30.00) on shares of Zions Bancorp in a report on Tuesday, August 16th. Raymond James Financial Inc. lifted their price target on Zions Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, lifted their price target on Zions Bancorp from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Zions Bancorp currently has a consensus rating of “Hold” and a consensus target price of $35.10.
Shares of Zions Bancorp (NASDAQ:ZION) traded down 1.113% on Monday, hitting $38.665. The stock had a trading volume of 847,491 shares. The company’s 50 day moving average price is $33.83 and its 200-day moving average price is $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 earnings results on Monday, October 24th. The company reported $0.57 earnings per share for the quarter, beating 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 quarter last year, the firm posted $0.41 earnings per share. On average, analysts expect that Zions Bancorp will post $1.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.82%. Zions Bancorp’s payout ratio is currently 17.58%.
In other Zions Bancorp news, insider Bruce K. Alexander sold 18,608 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $38.35, for a total transaction of $713,616.80. Following the completion of the transaction, the insider now owns 22,403 shares of the company’s stock, valued at $859,155.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Thomas E. Laursen sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $32.26, for a total value of $322,600.00. Following the transaction, the general counsel now directly owns 29,737 shares of the company’s stock, valued at approximately $959,315.62. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
Several institutional investors have recently made changes to their positions in ZION. Toronto Dominion Bank bought a new stake in Zions Bancorp during the third quarter worth about $131,000. Jacobus Wealth Management Inc. raised its stake in Zions Bancorp by 12.2% in the third quarter. Jacobus Wealth Management Inc. now owns 4,600 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the period. SRB Corp bought a new stake in Zions Bancorp during the third quarter worth about $173,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Zions Bancorp by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,293 shares of the company’s stock worth $195,000 after buying an additional 748 shares during the period. Finally, Seven Eight Capital LLC raised its stake in Zions Bancorp by 235.4% in the first quarter. Seven Eight Capital LLC now owns 6,412 shares of the company’s stock worth $155,000 after buying an additional 4,500 shares during the period. 86.95% of the stock is owned by institutional investors and hedge funds.
About Zions Bancorp