Zions Bancorporation NA (NASDAQ:ZION) Downgraded by BidaskClub

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BidaskClub downgraded shares of Zions Bancorporation NA (NASDAQ:ZION) from a hold rating to a sell rating in a report released on Wednesday, BidAskClub reports.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Co downgraded Zions Bancorporation NA from an outperform rating to a market perform rating and dropped their price target for the stock from $62.00 to $50.00 in a research report on Monday, July 22nd. Zacks Investment Research downgraded Zions Bancorporation NA from a buy rating to a hold rating and set a $46.00 price target for the company. in a research report on Thursday, June 27th. Bank of America raised their price target on Zions Bancorporation NA from $49.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. Barclays dropped their price target on Zions Bancorporation NA from $60.00 to $56.00 and set an overweight rating for the company in a research report on Tuesday, July 23rd. Finally, SunTrust Banks dropped their price target on Zions Bancorporation NA to $52.00 and set a reduce rating for the company in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $52.56.

Zions Bancorporation NA stock opened at $40.20 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day moving average of $44.18 and a two-hundred day moving average of $46.51. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.21 and a beta of 1.49. Zions Bancorporation NA has a fifty-two week low of $38.08 and a fifty-two week high of $54.76.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.10). The company had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $723.21 million. Zions Bancorporation NA had a return on equity of 12.26% and a net margin of 26.99%. During the same period in the previous year, the business posted $0.89 EPS. On average, analysts forecast that Zions Bancorporation NA will post 4.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Zions Bancorporation NA’s previous quarterly dividend of $0.30. Zions Bancorporation NA’s payout ratio is currently 33.33%.

In other news, insider A Scott Anderson sold 10,000 shares of Zions Bancorporation NA stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $44.92, for a total value of $449,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James R. Abbott sold 1,988 shares of Zions Bancorporation NA stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $45.83, for a total value of $91,110.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,615 shares of company stock valued at $1,197,961. Company insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Zions Bancorporation NA by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,828,645 shares of the bank’s stock valued at $115,238,000 after acquiring an additional 41,191 shares during the period. Geode Capital Management LLC grew its position in Zions Bancorporation NA by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,744,047 shares of the bank’s stock valued at $111,615,000 after acquiring an additional 76,349 shares during the period. DNB Asset Management AS grew its position in Zions Bancorporation NA by 158.2% during the first quarter. DNB Asset Management AS now owns 46,988 shares of the bank’s stock valued at $2,134,000 after acquiring an additional 28,788 shares during the period. Meeder Asset Management Inc. grew its position in Zions Bancorporation NA by 5.2% during the first quarter. Meeder Asset Management Inc. now owns 16,440 shares of the bank’s stock valued at $746,000 after acquiring an additional 818 shares during the period. Finally, Northpointe Capital LLC purchased a new stake in Zions Bancorporation NA during the first quarter valued at about $3,805,000. 95.25% of the stock is owned by institutional investors and hedge funds.

About Zions Bancorporation NA

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.

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Analyst Recommendations for Zions Bancorporation NA (NASDAQ:ZION)

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