Zions Bancorporation NA (NASDAQ:ZION) Stock Rating Upgraded by BidaskClub

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BidaskClub upgraded shares of Zions Bancorporation NA (NASDAQ:ZION) from a hold rating to a buy rating in a report published on Wednesday, October 30th, BidAskClub reports.

Several other research analysts also recently issued reports on ZION. Wedbush boosted their price objective on shares of Zions Bancorporation NA from $41.00 to $48.00 and gave the stock a neutral rating in a report on Tuesday, October 22nd. Raymond James boosted their price objective on shares of Zions Bancorporation NA from $49.00 to $55.00 and gave the stock a strong-buy rating in a report on Tuesday, October 22nd. Wells Fargo & Co restated a hold rating on shares of Zions Bancorporation NA in a report on Friday, August 16th. Morgan Stanley boosted their price objective on shares of Zions Bancorporation NA from $50.00 to $52.00 and gave the stock an equal weight rating in a report on Wednesday, October 23rd. Finally, Piper Jaffray Companies lowered 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 research note on Wednesday, September 11th. 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’s stock. Zions Bancorporation NA currently has an average rating of Buy and an average price target of $51.00.

Shares of ZION stock traded up $0.03 during trading hours on Wednesday, hitting $51.07. 3,922,300 shares of the company were exchanged, compared to its average volume of 2,337,391. The business’s 50-day simple moving average is $45.81 and its two-hundred day simple moving average is $44.76. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $51.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.69 and a beta of 1.57.

Zions Bancorporation NA (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.09. Zions Bancorporation NA had a net margin of 26.50% and a return on equity of 12.27%. The company had revenue of $713.00 million for the quarter, compared to the consensus estimate of $709.29 million. During the same quarter in the previous year, the firm posted $1.04 EPS. As a group, analysts anticipate that Zions Bancorporation NA will post 4.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.36 dividend on an annualized basis and a yield of 2.66%. Zions Bancorporation NA’s dividend payout ratio (DPR) is presently 33.33%.

In other news, EVP Keith D. Maio sold 5,720 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $49.38, for a total transaction of $282,453.60. Also, COO Scott J. Mclean sold 44,706 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.07, for a total transaction of $2,283,135.42. Over the last 90 days, insiders sold 69,354 shares of company stock worth $3,477,438. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in ZION. HM Payson & Co. acquired a new position in shares of Zions Bancorporation NA during the second quarter worth approximately $26,000. Steward Partners Investment Advisory LLC acquired a new position in Zions Bancorporation NA in the second quarter valued at approximately $35,000. Doyle Wealth Management bought a new stake in Zions Bancorporation NA in the second quarter valued at approximately $38,000. Amica Retiree Medical Trust bought a new stake in Zions Bancorporation NA in the second quarter valued at approximately $39,000. Finally, Valeo Financial Advisors LLC increased its stake in Zions Bancorporation NA by 48.9% in the second quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock valued at $41,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 94.33% 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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