News headlines about Zions Bancorporation (NASDAQ:ZION) have trended somewhat positive on Tuesday, Accern reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Zions Bancorporation earned a news impact score of 0.15 on Accern’s scale. Accern also gave headlines about the bank an impact score of 96 out of 100, meaning that recent press coverage is extremely likely to have an effect on the stock’s share price in the near term.
These are some of the headlines that may have effected Accern’s scoring:
- Zions Bancorporation – Banking Technology (bankingtech.com)
- Zions Bancorporation goes live on TCS BaNCS core banking software – Finextra (finextra.com)
- Zions Bancorporation – Warrants (NASDAQ:ZIONW) Sees Light Trading Volume with 6275 Shares Changing Hands – Highlight Press (highlightpress.com)
- Zions Bancorporation goes live on TCS Bancs core system – Banking Technology (bankingtech.com)
- Zions Bancorporation goes live on TCS BaNCS Core Banking software – PR Newswire (press release) (prnewswire.com)
A number of equities analysts have recently weighed in on ZION shares. Deutsche Bank AG upgraded Zions Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $45.00 to $46.00 in a research note on Thursday, May 4th. BMO Capital Markets restated a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation in a research note on Wednesday, March 22nd. Jefferies Group LLC restated a “buy” rating and set a $49.00 price objective on shares of Zions Bancorporation in a research note on Wednesday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price objective (up previously from $45.00) on shares of Zions Bancorporation in a research note on Friday, July 7th. Finally, Zacks Investment Research upgraded Zions Bancorporation from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $43.23.
Shares of Zions Bancorporation (ZION) opened at 44.34 on Tuesday. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 19.96 and a beta of 1.44. The firm’s 50-day moving average price is $41.41 and its 200-day moving average price is $42.36. Zions Bancorporation has a one year low of $25.62 and a one year high of $48.33.
Zions Bancorporation (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 24th. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.54 by $0.07. The company had revenue of $621 million for the quarter, compared to the consensus estimate of $619.90 million. Zions Bancorporation had a net margin of 20.50% and a return on equity of 7.44%. During the same period in the prior year, the firm posted $0.38 EPS. Analysts anticipate that Zions Bancorporation will post $2.60 earnings per share for the current year.
Zions Bancorporation announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $465.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, General Counsel Thomas E. Laursen sold 860 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $41.16, for a total transaction of $35,397.60. Following the completion of the sale, the general counsel now owns 25,901 shares of the company’s stock, valued at $1,066,085.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David E. Blackford sold 942 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $40.44, for a total transaction of $38,094.48. Following the sale, the insider now directly owns 29,415 shares of the company’s stock, valued at approximately $1,189,542.60. The disclosure for this sale can be found here. Insiders sold a total of 46,184 shares of company stock valued at $1,880,815 in the last ninety days. Corporate insiders own 1.46% of the company’s stock.
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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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