Zions Bancorporation (ZION) Stock Rating Reaffirmed by Keefe, Bruyette & Woods
Zions Bancorporation (NASDAQ:ZION)‘s stock had its “hold” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Monday. They presently have a $44.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 1.41% from the company’s current price.
A number of other equities analysts also recently issued reports on ZION. Zacks Investment Research downgraded Zions Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. BMO Capital Markets restated a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation in a research report on Wednesday, March 22nd. Compass Point upgraded Zions Bancorporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 29th. They noted that the move was a valuation call. Jefferies Group LLC restated a “buy” rating and set a $49.00 price objective on shares of Zions Bancorporation in a research report on Wednesday, April 5th. Finally, Piper Jaffray Companies lowered their price objective on Zions Bancorporation from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.90.
Zions Bancorporation (NASDAQ:ZION) last posted its earnings results on Monday, April 24th. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.54 by $0.07. The firm had revenue of $621 million during the quarter, compared to the consensus estimate of $619.90 million. Zions Bancorporation had a return on equity of 7.44% and a net margin of 20.50%. During the same period last year, the company earned $0.38 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. Zions Bancorporation’s dividend payout ratio (DPR) is presently 14.41%.
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In other Zions Bancorporation news, insider Leeanne B. Linderman sold 29,078 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $41.00, for a total value of $1,192,198.00. Following the completion of the sale, the insider now owns 15,746 shares of the company’s stock, valued at $645,586. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Thomas E. Laursen sold 860 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $41.16, for a total value of $35,397.60. Following the completion of the sale, the general counsel now directly owns 25,901 shares of the company’s stock, valued at approximately $1,066,085.16. The disclosure for this sale can be found here. Insiders sold 46,184 shares of company stock valued at $1,880,815 in the last three months. Insiders own 1.46% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ZION. Global X Management Co. LLC raised its position in Zions Bancorporation by 340.4% in the first quarter. Global X Management Co. LLC now owns 3,021 shares of the bank’s stock worth $127,000 after buying an additional 2,335 shares in the last quarter. Segantii Capital Management Ltd bought a new position in Zions Bancorporation during the first quarter worth $151,000. Cypress Capital Management LLC WY bought a new position in Zions Bancorporation during the first quarter worth $169,000. FNY Partners Fund LP bought a new position in Zions Bancorporation during the first quarter worth $188,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Zions Bancorporation by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,494 shares of the bank’s stock worth $194,000 after buying an additional 124 shares in the last quarter. Institutional investors own 95.42% of the company’s stock.
Zions Bancorporation Company Profile
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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