Zions Bancorporation NA (NASDAQ:ZION) Downgraded by DA Davidson to Neutral
DA Davidson lowered shares of Zions Bancorporation NA (NASDAQ:ZION) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, Briefing.com Automated Import reports.
ZION has been the topic of a number of other reports. Morgan Stanley upped their target price on shares of Zions Bancorporation NA from $50.00 to $52.00 and gave the company an equal weight rating in a report on Wednesday, October 23rd. Piper Jaffray Companies dropped their target price on shares of Zions Bancorporation NA from $51.00 to $50.00 and set an overweight rating on the stock in a report on Wednesday, September 11th. Barclays dropped their target price on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Bank of America upped their target price on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the company a buy rating in a report on Tuesday, August 6th. Finally, Raymond James upped their target price on shares of Zions Bancorporation NA from $49.00 to $55.00 and gave the company a strong-buy rating in a report on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Zions Bancorporation NA currently has a consensus rating of Buy and an average price target of $51.00.
Shares of Zions Bancorporation NA stock traded up $0.03 on Thursday, hitting $51.07. 3,922,300 shares of the company’s stock traded hands, compared to its average volume of 2,337,391. The firm’s 50-day moving average price is $45.81 and its two-hundred day moving average price is $44.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.84 and a quick ratio of 0.84. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $51.81. The stock has a market capitalization of $8.97 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.57.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.36 annualized dividend and a yield of 2.66%. Zions Bancorporation NA’s dividend payout ratio is currently 33.33%.
In other Zions Bancorporation NA news, COO Scott J. Mclean sold 44,706 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.07, for a total value of $2,283,135.42. Also, EVP Keith D. Maio sold 5,720 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $49.38, for a total transaction of $282,453.60. Over the last three months, insiders sold 69,354 shares of company stock worth $3,477,438. Insiders own 1.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its holdings in Zions Bancorporation NA by 1,110.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,905 shares of the bank’s stock valued at $129,000 after acquiring an additional 2,665 shares during the period. Parkside Financial Bank & Trust raised its holdings in Zions Bancorporation NA by 409.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,458 shares of the bank’s stock valued at $65,000 after acquiring an additional 1,172 shares during the period. First Trust Advisors LP raised its holdings in Zions Bancorporation NA by 16.3% in the 3rd quarter. First Trust Advisors LP now owns 463,383 shares of the bank’s stock valued at $20,630,000 after acquiring an additional 64,954 shares during the period. Tibra Equities Europe Ltd bought a new position in Zions Bancorporation NA in the 3rd quarter valued at about $552,000. Finally, Parallel Advisors LLC raised its holdings in Zions Bancorporation NA by 147.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,166 shares of the bank’s stock valued at $52,000 after acquiring an additional 695 shares during the period. 94.33% of the stock is currently owned by hedge funds and other institutional investors.
About Zions Bancorporation NA
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.
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