Zions Bancorp (ZION) Given Average Recommendation of “Buy” by Brokerages

Shares of Zions Bancorp (NASDAQ:ZION) have been assigned a consensus rating of “Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $54.88.

ZION has been the subject of a number of analyst reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $44.00 price target on shares of Zions Bancorp in a research report on Tuesday, October 24th. FBR & Co reissued a “buy” rating and issued a $54.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 24th. Barclays set a $52.00 price objective on shares of Zions Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $60.00 price objective on shares of Zions Bancorp in a research note on Friday, December 22nd. Finally, BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th.

In other news, insider Joseph L. Reilly sold 23,271 shares of Zions Bancorp stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $46.70, for a total transaction of $1,086,755.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Thomas E. Laursen sold 1,250 shares of Zions Bancorp stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $54.28, for a total transaction of $67,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,425 shares of company stock worth $2,513,426. Insiders own 1.46% of the company’s stock.

Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Zions Bancorp by 11.7% during the second quarter. PNC Financial Services Group Inc. now owns 17,736 shares of the bank’s stock valued at $780,000 after purchasing an additional 1,855 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of Zions Bancorp during the second quarter valued at about $1,414,000. M&T Bank Corp raised its holdings in shares of Zions Bancorp by 12.3% during the second quarter. M&T Bank Corp now owns 11,661 shares of the bank’s stock valued at $511,000 after purchasing an additional 1,280 shares during the period. Nordea Investment Management AB raised its holdings in shares of Zions Bancorp by 251.5% during the second quarter. Nordea Investment Management AB now owns 8,988 shares of the bank’s stock valued at $395,000 after purchasing an additional 6,431 shares during the period. Finally, Advisor Group Inc. raised its holdings in shares of Zions Bancorp by 20.8% during the second quarter. Advisor Group Inc. now owns 5,234 shares of the bank’s stock valued at $229,000 after purchasing an additional 901 shares during the period. Institutional investors own 93.57% of the company’s stock.

Zions Bancorp (ZION) traded down $0.82 during midday trading on Friday, hitting $54.16. 4,451,448 shares of the stock were exchanged, compared to its average volume of 1,981,194. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 52 week low of $38.43 and a 52 week high of $55.61. The firm has a market capitalization of $10,860.31, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45.

Zions Bancorp (NASDAQ:ZION) last released its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The company had revenue of $665.00 million during the quarter, compared to the consensus estimate of $670.55 million. During the same period in the previous year, the business earned $0.60 earnings per share. research analysts predict that Zions Bancorp will post 3.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s payout ratio is presently 24.62%.

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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.

Analyst Recommendations for Zions Bancorp (NASDAQ:ZION)

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