Zions Bancorporation NA (NASDAQ:ZION) Downgraded by DA Davidson
DA Davidson cut shares of Zions Bancorporation NA (NASDAQ:ZION) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Briefing.com Automated Import reports.
A number of other research firms have also recently issued reports on ZION. Morgan Stanley lifted their target price on shares of Zions Bancorporation NA from $50.00 to $52.00 and gave the company an equal weight rating in a research note on Wednesday, October 23rd. 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 research note on Tuesday, August 6th. BidaskClub upgraded shares of Zions Bancorporation NA from a hold rating to a buy rating in a research note on Wednesday, October 30th. Wells Fargo & Co reiterated a hold rating on shares of Zions Bancorporation NA in a research note on Friday, August 16th. Finally, SunTrust Banks cut their target price on shares of Zions Bancorporation NA from $52.00 to $50.00 and set a buy rating for the company in a research note on Thursday, September 12th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $51.00.
Zions Bancorporation NA stock traded up $0.03 during mid-day trading on Thursday, hitting $51.07. 3,922,300 shares of the company’s stock were exchanged, compared to its average volume of 2,337,391. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $51.81. The stock has a 50 day moving average of $45.81 and a two-hundred day moving average of $44.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.97 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.69 and a beta of 1.57.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, November 13th. Zions Bancorporation NA’s dividend payout ratio (DPR) is presently 33.33%.
In related news, VP Olga Hoff sold 2,042 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $49.35, for a total value of $100,772.70. Also, COO Scott J. Mclean sold 44,706 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.07, for a total transaction of $2,283,135.42. Insiders sold a total of 69,354 shares of company stock valued at $3,477,438 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. acquired a new stake in Zions Bancorporation NA during the 2nd quarter worth $26,000. Steward Partners Investment Advisory LLC acquired a new stake in Zions Bancorporation NA during the 2nd quarter worth $35,000. Doyle Wealth Management acquired a new stake in Zions Bancorporation NA during the 2nd quarter worth $38,000. Amica Retiree Medical Trust acquired a new stake in Zions Bancorporation NA during the 2nd quarter worth $39,000. Finally, Valeo Financial Advisors LLC grew its holdings in Zions Bancorporation NA by 48.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock worth $41,000 after acquiring an additional 295 shares during the period. 94.33% of the stock is owned by hedge funds and other institutional investors.
About Zions Bancorporation NA
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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