Zions Bancorporation NA (NASDAQ:ZION) Downgraded by BidaskClub

BidaskClub cut shares of Zions Bancorporation NA (NASDAQ:ZION) from a hold rating to a sell rating in a report issued on Wednesday morning, BidAskClub reports.

A number of other research analysts have also commented on the company. Bank of America upped their target price on Zions Bancorporation NA from $49.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, August 6th. Barclays cut their target price on Zions Bancorporation NA from $60.00 to $56.00 and set an overweight rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets cut their target price on Zions Bancorporation NA to $47.00 and set a market perform rating for the company in a research note on Tuesday, July 23rd. Zacks Investment Research lowered Zions Bancorporation NA from a buy rating to a hold rating and set a $46.00 target price for the company. in a research note on Thursday, June 27th. Finally, Wells Fargo & Co lowered Zions Bancorporation NA from an outperform rating to a market perform rating and cut their target price for the company from $62.00 to $50.00 in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $52.56.

Shares of ZION stock opened at $40.20 on Wednesday. The stock has a 50 day moving average of $44.18 and a 200-day moving average of $46.51. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.02 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 1.17 and a beta of 1.49. Zions Bancorporation NA has a 12 month low of $38.08 and a 12 month high of $54.76.

Zions Bancorporation NA (NASDAQ:ZION) last issued its earnings results on Monday, July 22nd. The bank reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $723.21 million. Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, equities analysts predict that Zions Bancorporation NA will post 4.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.38%. This is a boost from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 14th. Zions Bancorporation NA’s dividend payout ratio is 33.33%.

In other news, insider A Scott Anderson sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $44.92, for a total transaction of $449,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David E. Blackford sold 2,312 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $45.13, for a total value of $104,340.56. The disclosure for this sale can be found here. Insiders sold 26,615 shares of company stock worth $1,197,961 over the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC lifted its stake in shares of Zions Bancorporation NA by 8.2% during the first quarter. ETF Managers Group LLC now owns 2,744 shares of the bank’s stock valued at $125,000 after acquiring an additional 207 shares during the period. Private Advisor Group LLC lifted its stake in shares of Zions Bancorporation NA by 4.5% during the second quarter. Private Advisor Group LLC now owns 6,214 shares of the bank’s stock valued at $286,000 after acquiring an additional 269 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Zions Bancorporation NA by 48.9% during the second quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock valued at $41,000 after acquiring an additional 295 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Zions Bancorporation NA by 1.5% during the first quarter. CIBC Asset Management Inc now owns 22,010 shares of the bank’s stock valued at $999,000 after acquiring an additional 329 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Zions Bancorporation NA by 2.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,827 shares of the bank’s stock valued at $627,000 after acquiring an additional 355 shares during the period. Institutional investors own 95.25% of the company’s stock.

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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Analyst Recommendations for Zions Bancorporation NA (NASDAQ:ZION)

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