Sandler O’Neill reaffirmed their buy rating on shares of Zions Bancorp (NASDAQ:ZION) in a research report released on Friday, March 9th. The firm currently has a $62.00 target price on the bank’s stock.
Several other research firms have also issued reports on ZION. Keefe, Bruyette & Woods reissued a buy rating and issued a $60.00 price target on shares of Zions Bancorp in a research report on Friday, December 22nd. Morgan Stanley raised their price objective on shares of Zions Bancorp from $57.00 to $58.00 and gave the stock an equal weight rating in a report on Friday, January 26th. Piper Jaffray Companies reaffirmed a hold rating and set a $49.00 price objective on shares of Zions Bancorp in a report on Tuesday, January 9th. BidaskClub cut shares of Zions Bancorp from a buy rating to a hold rating in a research note on Friday, January 5th. Finally, Zacks Investment Research raised shares of Zions Bancorp from a hold rating to a buy rating and set a $57.00 price target on the stock in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. Zions Bancorp presently has a consensus rating of Buy and a consensus price target of $56.15.
Shares of ZION stock opened at $55.52 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. Zions Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $57.29. The stock has a market cap of $10,910.46, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.63 and a beta of 1.37.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were issued a $0.20 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s payout ratio is currently 30.77%.
In other news, President Scott J. Mclean sold 31,309 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $56.15, for a total value of $1,758,000.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Dan Stephens sold 7,100 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $54.87, for a total transaction of $389,577.00. The disclosure for this sale can be found here. Insiders sold a total of 57,224 shares of company stock valued at $3,156,817 in the last three months. Insiders own 1.46% of the company’s stock.
Several large investors have recently modified their holdings of ZION. Crossmark Global Holdings Inc. acquired a new position in shares of Zions Bancorp in the 3rd quarter valued at approximately $1,015,000. Andra AP fonden increased its position in Zions Bancorp by 10.1% during the 3rd quarter. Andra AP fonden now owns 45,600 shares of the bank’s stock worth $2,151,000 after purchasing an additional 4,200 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Zions Bancorp during the 3rd quarter worth approximately $255,000. State of Tennessee Treasury Department increased its position in Zions Bancorp by 55.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 225,635 shares of the bank’s stock worth $10,645,000 after purchasing an additional 80,342 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Zions Bancorp by 33.0% during the 3rd quarter. Principal Financial Group Inc. now owns 424,696 shares of the bank’s stock worth $20,037,000 after purchasing an additional 105,440 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.