Wells Fargo & Co Boosts Zions Bancorporation NA (NASDAQ:ZION) Price Target to $37.00
Several other brokerages have also recently weighed in on ZION. BidaskClub upgraded Zions Bancorporation NA from a strong sell rating to a sell rating in a report on Friday, May 29th. B. Riley cut Zions Bancorporation NA from a buy rating to a neutral rating and lowered their target price for the stock from $39.00 to $33.00 in a report on Tuesday, April 21st. SunTrust Banks boosted their target price on Zions Bancorporation NA from $34.00 to $39.00 and gave the stock a buy rating in a report on Tuesday, May 5th. DA Davidson upgraded Zions Bancorporation NA from a neutral rating to a buy rating and boosted their target price for the stock from $32.00 to $36.00 in a report on Wednesday, May 20th. Finally, Wedbush boosted their target price on Zions Bancorporation NA from $32.00 to $35.00 and gave the stock a neutral rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Zions Bancorporation NA currently has a consensus rating of Hold and an average price target of $41.30.
ZION stock traded up $1.38 during trading on Friday, hitting $38.61. The stock had a trading volume of 3,190,395 shares, compared to its average volume of 2,602,543. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.85. Zions Bancorporation NA has a twelve month low of $23.58 and a twelve month high of $52.48. The stock has a market capitalization of $6.10 billion, a P/E ratio of 11.15, a PEG ratio of 4.68 and a beta of 1.66. The company’s 50-day moving average price is $30.40 and its two-hundred day moving average price is $39.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Friday, May 8th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, May 7th. Zions Bancorporation NA’s payout ratio is 31.41%.
In other news, Chairman Harris H. Simmons bought 40,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $26.43 per share, with a total value of $1,057,200.00. Following the completion of the transaction, the chairman now directly owns 1,222,254 shares in the company, valued at $32,304,173.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas E. Laursen sold 5,229 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $31.03, for a total value of $162,255.87. Following the completion of the sale, the vice president now directly owns 22,975 shares in the company, valued at approximately $712,914.25. The disclosure for this sale can be found here. 1.81% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of ZION. Cullen Frost Bankers Inc. increased its position in shares of Zions Bancorporation NA by 454.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 566 shares of the bank’s stock worth $29,000 after acquiring an additional 464 shares during the period. Signaturefd LLC increased its position in shares of Zions Bancorporation NA by 369.3% during the first quarter. Signaturefd LLC now owns 1,572 shares of the bank’s stock worth $42,000 after acquiring an additional 1,237 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Zions Bancorporation NA during the fourth quarter worth $70,000. NuWave Investment Management LLC increased its position in shares of Zions Bancorporation NA by 3,126.5% during the first quarter. NuWave Investment Management LLC now owns 4,388 shares of the bank’s stock worth $117,000 after acquiring an additional 4,252 shares during the period. Finally, CWM LLC increased its position in shares of Zions Bancorporation NA by 142.9% during the first quarter. CWM LLC now owns 4,554 shares of the bank’s stock worth $122,000 after acquiring an additional 2,679 shares during the period. 95.00% of the stock is currently owned by institutional investors and hedge funds.
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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