BidaskClub upgraded shares of Zions Bancorp (NASDAQ:ZION) from a hold rating to a buy rating in a research report report published on Monday.
ZION has been the subject of several other research reports. Piper Jaffray Companies reiterated a hold rating and issued a $44.00 price objective on shares of Zions Bancorp in a report on Tuesday, October 24th. FBR & Co reiterated a buy rating and issued a $54.00 price objective on shares of Zions Bancorp in a report on Tuesday, October 24th. Barclays set a $52.00 price objective on Zions Bancorp and gave the stock an overweight rating in a report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $60.00 price objective on shares of Zions Bancorp in a report on Friday, December 22nd. Finally, Morgan Stanley increased their price objective on Zions Bancorp from $57.00 to $58.00 and gave the stock an equal weight rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $54.78.
Shares of Zions Bancorp (ZION) opened at $54.02 on Monday. The firm has a market capitalization of $10,790.00, a PE ratio of 20.62, a P/E/G ratio of 1.53 and a beta of 1.45. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $55.61. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th will be given a $0.20 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio is currently 24.43%.
In other news, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total value of $604,602.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander Hume sold 7,196 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $53.87, for a total value of $387,648.52. The disclosure for this sale can be found here. Insiders sold a total of 52,425 shares of company stock valued at $2,513,426 in the last three months. Corporate insiders own 1.46% of the company’s stock.
Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in shares of Zions Bancorp by 2,081.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after acquiring an additional 2,872 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in shares of Zions Bancorp in the 4th quarter worth approximately $157,000. Americafirst Capital Management LLC bought a new position in shares of Zions Bancorp in the 2nd quarter worth approximately $175,000. RNC Capital Management LLC bought a new position in shares of Zions Bancorp in the 4th quarter worth approximately $203,000. Finally, Conning Inc. bought a new position in shares of Zions Bancorp in the 3rd quarter worth approximately $210,000. 93.30% of the stock is owned by hedge funds and other institutional investors.
About Zions Bancorp
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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