Sandler O’Neill reissued their buy rating on shares of Zions Bancorp (NASDAQ:ZION) in a research note issued to investors on Friday. The brokerage currently has a $62.00 price target on the bank’s stock.
ZION has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $60.00 price objective on shares of Zions Bancorp in a research note on Friday, December 22nd. BidaskClub lowered Zions Bancorp from a buy rating to a hold rating in a research note on Friday, January 5th. Morgan Stanley increased their price objective on Zions Bancorp from $57.00 to $58.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Wells Fargo & Co reaffirmed an outperform rating and set a $65.00 price objective (up previously from $60.00) on shares of Zions Bancorp in a research note on Tuesday, January 23rd. Finally, B. Riley reaffirmed a buy rating and set a $64.00 price objective (up previously from $60.00) on shares of Zions Bancorp in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Zions Bancorp presently has an average rating of Buy and an average target price of $55.89.
Shares of Zions Bancorp (NASDAQ ZION) opened at $57.04 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $11,390.00, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. Zions Bancorp has a twelve month low of $38.43 and a twelve month high of $57.13.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 14th. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. This represents a $0.80 annualized dividend and a yield of 1.40%. Zions Bancorp’s dividend payout ratio is 28.17%.
In other news, President Scott J. Mclean sold 31,309 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $56.15, for a total value of $1,758,000.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total value of $67,850.00. The disclosure for this sale can be found here. Insiders have sold 57,224 shares of company stock worth $3,156,817 over the last quarter. 1.46% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Advisor Partners LLC raised its holdings in shares of Zions Bancorp by 15.6% in the 4th quarter. Advisor Partners LLC now owns 7,382 shares of the bank’s stock worth $397,000 after purchasing an additional 998 shares during the period. Norinchukin Bank The raised its holdings in shares of Zions Bancorp by 11.3% in the 4th quarter. Norinchukin Bank The now owns 10,014 shares of the bank’s stock worth $509,000 after purchasing an additional 1,017 shares during the period. Comerica Bank raised its holdings in shares of Zions Bancorp by 2.3% in the 3rd quarter. Comerica Bank now owns 49,795 shares of the bank’s stock worth $2,330,000 after purchasing an additional 1,107 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Zions Bancorp by 3.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 40,775 shares of the bank’s stock worth $2,073,000 after purchasing an additional 1,169 shares during the period. Finally, Gotham Asset Management LLC raised its holdings in shares of Zions Bancorp by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 6,205 shares of the bank’s stock worth $315,000 after purchasing an additional 1,183 shares during the period. Institutional investors own 93.55% of the company’s stock.
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About Zions Bancorp
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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