Brokerages Set Zions Bancorporation NA (NASDAQ:ZION) Target Price at $52.56
Shares of Zions Bancorporation NA (NASDAQ:ZION) have been assigned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $52.56.
Several equities analysts have recently weighed in on ZION shares. Wells Fargo & Co lowered shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and cut their target price for the company from $62.00 to $50.00 in a report on Monday, July 22nd. SunTrust Banks cut their target price on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. BidaskClub lowered shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America lifted their target price on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Barclays cut their target price on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd.
In related news, insider Mark Richard Young sold 2,386 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $43.93, for a total value of $104,816.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider A Scott Anderson sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $44.92, for a total transaction of $449,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 26,615 shares of company stock valued at $1,197,961. 1.70% of the stock is owned by insiders.
ZION stock traded down $1.31 during trading on Wednesday, reaching $39.93. The company had a trading volume of 2,136,055 shares, compared to its average volume of 2,364,411. Zions Bancorporation NA has a twelve month low of $38.08 and a twelve month high of $54.76. 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 firm has a market cap of $7.41 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.49. The business has a 50-day simple moving average of $44.46.
Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The business 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 prior year, the business posted $0.89 earnings per share. As a group, analysts expect that Zions Bancorporation NA will post 4.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.41%. 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. Zions Bancorporation NA’s payout ratio is presently 29.41%.
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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