ValuEngine upgraded shares of Zions Bancorporation NA (NASDAQ:ZION) from a sell rating to a hold rating in a report released on Wednesday, ValuEngine reports.
Other research analysts have also issued research reports about the company. Evercore ISI started coverage on Zions Bancorporation NA in a report on Friday, February 7th. They issued a hold rating and a $53.00 price objective on the stock. Royal Bank of Canada lowered shares of Zions Bancorporation NA from an outperform rating to a sector perform rating and dropped their target price for the stock from $54.00 to $48.00 in a report on Monday, February 10th. BidaskClub cut shares of Zions Bancorporation NA from a sell rating to a strong sell rating in a research report on Tuesday, January 28th. B. Riley reissued a buy rating and issued a $57.00 price target on shares of Zions Bancorporation NA in a research note on Wednesday, January 22nd. Finally, SunTrust Banks raised their price target on shares of Zions Bancorporation NA from $52.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $50.41.
NASDAQ ZION opened at $25.58 on Wednesday. The company has a market cap of $4.22 billion, a PE ratio of 6.13, a price-to-earnings-growth ratio of 0.84 and a beta of 1.50. The stock’s 50 day simple moving average is $39.98 and its 200-day simple moving average is $45.87. Zions Bancorporation NA has a 1-year low of $25.27 and a 1-year high of $52.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.88 and a quick ratio of 0.88.
Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.11). Zions Bancorporation NA had a return on equity of 12.19% and a net margin of 25.15%. The firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $702.03 million. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, equities research analysts anticipate that Zions Bancorporation NA will post 4.2 EPS for the current fiscal year.
In other news, VP Alan M. Forney sold 3,029 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $46.47, for a total transaction of $140,757.63. Following the completion of the sale, the vice president now owns 10,379 shares in the company, valued at approximately $482,312.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP A Scott Anderson sold 4,631 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $46.20, for a total transaction of $213,952.20. Following the sale, the vice president now owns 35,847 shares of the company’s stock, valued at approximately $1,656,131.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,660 shares of company stock worth $715,990. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Victory Capital Management Inc. raised its position in Zions Bancorporation NA by 21.8% in the fourth quarter. Victory Capital Management Inc. now owns 6,158,660 shares of the bank’s stock valued at $319,758,000 after purchasing an additional 1,101,108 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Zions Bancorporation NA by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,775,886 shares of the bank’s stock worth $196,044,000 after purchasing an additional 66,704 shares during the last quarter. Ceredex Value Advisors LLC increased its position in shares of Zions Bancorporation NA by 5.0% during the 4th quarter. Ceredex Value Advisors LLC now owns 2,144,300 shares of the bank’s stock worth $111,332,000 after purchasing an additional 101,400 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Zions Bancorporation NA by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,930,248 shares of the bank’s stock worth $100,219,000 after purchasing an additional 83,078 shares during the last quarter. Finally, Parnassus Investments CA raised its holdings in Zions Bancorporation NA by 39.9% in the 4th quarter. Parnassus Investments CA now owns 1,929,449 shares of the bank’s stock valued at $100,177,000 after buying an additional 550,503 shares during the period. Hedge funds and other institutional investors own 95.83% of the company’s stock.
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.
