Zions Bancorp (ZION) Short Interest Update
Zions Bancorp (NASDAQ:ZION) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 12,108,830 shares, a growth of 16.4% from the October 31st total of 10,402,496 shares. Currently, 6.1% of the shares of the company are sold short. Based on an average trading volume of 4,483,013 shares, the days-to-cover ratio is presently 2.7 days.
ZION has been the topic of a number of analyst reports. Raymond James Financial Inc. boosted their target price on shares of Zions Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Zacks Investment Research raised shares of Zions Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, October 3rd. upped their price target on shares of Zions Bancorp from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $38.00 price target on shares of Zions Bancorp in a report on Tuesday, November 8th. Finally, Morgan Stanley cut shares of Zions Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $38.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.10.
Zions Bancorp (NASDAQ:ZION) opened at 39.10 on Friday. Zions Bancorp has a 52 week low of $19.65 and a 52 week high of $39.23. The company has a market cap of $7.97 billion, a P/E ratio of 21.48 and a beta of 1.37. The firm’s 50 day moving average is $33.83 and its 200-day moving average is $29.50.
Zions Bancorp (NASDAQ:ZION) last posted its earnings results on Monday, October 24th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Zions Bancorp had a net margin of 17.81% and a return on equity of 6.16%. During the same period in the prior year, the firm posted $0.41 EPS. On average, analysts predict that Zions Bancorp will post $1.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.82%. Zions Bancorp’s dividend payout ratio (DPR) is presently 17.58%.
In other Zions Bancorp news, General Counsel Thomas E. Laursen sold 10,000 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $32.26, for a total transaction of $322,600.00. Following the sale, the general counsel now owns 29,737 shares of the company’s stock, valued at approximately $959,315.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dianne R. James sold 4,259 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $38.24, for a total transaction of $162,864.16. Following the sale, the insider now directly owns 22,043 shares in the company, valued at approximately $842,924.32. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
Several hedge funds have recently bought and sold shares of ZION. Parametrica Management Ltd acquired a new stake in Zions Bancorp during the second quarter worth $234,000. IBM Retirement Fund boosted its position in Zions Bancorp by 0.7% in the second quarter. IBM Retirement Fund now owns 20,336 shares of the company’s stock worth $511,000 after buying an additional 144 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Zions Bancorp by 7.4% in the second quarter. State of Alaska Department of Revenue now owns 16,115 shares of the company’s stock worth $404,000 after buying an additional 1,117 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Zions Bancorp by 7.6% in the second quarter. Nisa Investment Advisors LLC now owns 63,712 shares of the company’s stock worth $1,601,000 after buying an additional 4,515 shares in the last quarter. Finally, MAI Capital Management boosted its position in Zions Bancorp by 0.3% in the second quarter. MAI Capital Management now owns 8,641 shares of the company’s stock worth $217,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.
About Zions Bancorp
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
Receive News & Stock Ratings for Zions Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorp and related stocks with our FREE daily email newsletter.