A number of other research analysts have also weighed in on ZION. Keefe, Bruyette & Woods lowered Zions Bancorporation NA from an outperform rating to a market perform rating and dropped their target price for the company from $53.00 to $47.00 in a report on Tuesday, July 23rd. BidaskClub downgraded shares of Zions Bancorporation NA from a hold rating to a sell rating in a report on Wednesday, August 14th. Barclays decreased their price objective on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an overweight rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Zions Bancorporation NA to $47.00 and set a market perform rating for the company in a research note on Tuesday, July 23rd. Finally, Zacks Investment Research downgraded shares of Zions Bancorporation NA from a buy rating to a hold rating and set a $46.00 price objective for the company. in a research note on Thursday, June 27th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Zions Bancorporation NA currently has a consensus rating of Hold and an average target price of $52.56.
Shares of ZION stock traded up $0.68 on Friday, hitting $40.88. 1,895,664 shares of the stock traded hands, compared to its average volume of 2,363,946. The firm’s 50-day moving average price is $44.18 and its two-hundred day moving average price is $46.51. 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 market capitalization of $7.11 billion, a PE ratio of 10.02, a PEG ratio of 1.16 and a beta of 1.49. Zions Bancorporation NA has a twelve month low of $38.08 and a twelve month high of $54.76.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from Zions Bancorporation NA’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 3.33%. Zions Bancorporation NA’s dividend payout ratio is 33.33%.
In other Zions Bancorporation NA news, insider A Scott Anderson sold 10,000 shares of the 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander Hume sold 9,929 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $45.17, for a total value of $448,492.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,615 shares of company stock worth $1,197,961. 1.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ZION. Dimensional Fund Advisors LP grew its position in Zions Bancorporation NA by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,828,645 shares of the bank’s stock worth $115,238,000 after purchasing an additional 41,191 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Zions Bancorporation NA by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,744,047 shares of the bank’s stock worth $111,615,000 after acquiring an additional 76,349 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Zions Bancorporation NA by 23.2% in the 1st quarter. IFM Investors Pty Ltd now owns 11,333 shares of the bank’s stock worth $515,000 after acquiring an additional 2,133 shares during the period. Gulf International Bank UK Ltd lifted its stake in shares of Zions Bancorporation NA by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 43,226 shares of the bank’s stock worth $1,962,000 after acquiring an additional 393 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Zions Bancorporation NA in the 1st quarter worth $218,000. 98.30% of the stock is owned by institutional investors.
Zions Bancorporation NA Company Profile
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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