Several other brokerages also recently commented on ZION. Keefe, Bruyette & Woods reiterated a buy rating and set a $60.00 target price on shares of Zions Bancorp in a report on Friday, December 22nd. BidaskClub downgraded Zions Bancorp from a buy rating to a hold rating in a report on Friday, January 5th. Morgan Stanley raised their target price on Zions Bancorp from $57.00 to $58.00 and gave the company an equal weight rating in a report on Friday, January 26th. Wells Fargo & Co reiterated an outperform rating and set a $65.00 target price (up from $60.00) on shares of Zions Bancorp in a report on Tuesday, January 23rd. Finally, B. Riley reiterated a buy rating and set a $64.00 target price (up from $60.00) on shares of Zions Bancorp in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $55.89.
Zions Bancorp (NASDAQ ZION) opened at $57.04 on Friday. The company has a market capitalization of $11,390.00, a PE ratio of 20.08, a PEG ratio of 1.67 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. Zions Bancorp has a twelve month low of $38.43 and a twelve month high of $57.13.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Wednesday, February 14th. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio (DPR) is 28.17%.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total transaction of $67,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott J. Mclean sold 31,309 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $56.15, for a total value of $1,758,000.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,224 shares of company stock valued at $3,156,817. 1.46% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Crewe Advisors LLC acquired a new stake in Zions Bancorp during the 4th quarter valued at approximately $102,000. Delpha Capital Management LLC acquired a new stake in Zions Bancorp during the 4th quarter valued at approximately $107,000. G&S Capital LLC acquired a new stake in Zions Bancorp during the 4th quarter valued at approximately $115,000. Tower Research Capital LLC TRC grew its stake in Zions Bancorp by 1,274.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,763 shares of the bank’s stock valued at $140,000 after purchasing an additional 2,562 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew 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. Hedge funds and other institutional investors own 93.55% of the company’s stock.
Zions Bancorp Company Profile
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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