Shares of Zions Bancorporation (NASDAQ:ZION) have earned an average recommendation of “Hold” from the twenty-four research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $49.26.
ZION has been the subject of several recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of Zions Bancorporation in a report on Thursday, October 12th. Bank of America Corporation raised Zions Bancorporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $52.00 in a report on Wednesday, August 16th. FBR & Co reaffirmed a “buy” rating and issued a $54.00 price target on shares of Zions Bancorporation in a report on Tuesday, October 24th. B. Riley set a $54.00 price target on Zions Bancorporation and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $49.00 price target (up previously from $48.00) on shares of Zions Bancorporation in a report on Wednesday, October 4th.
Zions Bancorporation (NASDAQ:ZION) traded down $0.54 during midday trading on Monday, hitting $46.35. The stock had a trading volume of 1,204,200 shares, compared to its average volume of 2,509,733. The stock has a market capitalization of $9,150.00, a P/E ratio of 17.63, a PEG ratio of 1.81 and a beta of 1.48. Zions Bancorporation has a 1-year low of $38.23 and a 1-year high of $48.33. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80.
Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $666.83 million. Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same quarter last year, the business earned $0.57 EPS. research analysts forecast that Zions Bancorporation will post 2.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.16 per share. This is a boost from Zions Bancorporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.64 annualized dividend and a yield of 1.38%. Zions Bancorporation’s dividend payout ratio (DPR) is 23.97%.
A number of hedge funds have recently bought and sold shares of ZION. State of Alaska Department of Revenue increased its stake in Zions Bancorporation by 78.6% during the second quarter. State of Alaska Department of Revenue now owns 7,180 shares of the bank’s stock worth $315,000 after acquiring an additional 3,160 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Zions Bancorporation in the second quarter valued at $1,443,000. LS Investment Advisors LLC grew its stake in shares of Zions Bancorporation by 83.0% in the second quarter. LS Investment Advisors LLC now owns 9,423 shares of the bank’s stock valued at $414,000 after buying an additional 4,274 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Zions Bancorporation by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the bank’s stock valued at $553,000 after buying an additional 200 shares in the last quarter. Finally, Aperio Group LLC grew its stake in shares of Zions Bancorporation by 10.6% in the second quarter. Aperio Group LLC now owns 110,253 shares of the bank’s stock valued at $4,841,000 after buying an additional 10,574 shares in the last quarter. 93.15% of the stock is owned by institutional investors.
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Zions Bancorporation 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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