Zions Bancorporation NA (NASDAQ:ZION) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.
Several other brokerages have also issued reports on ZION. ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Vining Sparks reissued a “buy” rating and issued a $63.00 target price on shares of Zions Bancorporation NA in a research report on Thursday, January 24th. JPMorgan Chase & Co. lowered Zions Bancorporation NA from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $53.00 to $50.00 in a research report on Thursday, April 4th. Finally, Wedbush increased their target price on Zions Bancorporation NA from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.87.
NASDAQ ZION traded down $1.31 on Wednesday, hitting $45.13. The company’s stock had a trading volume of 2,430,313 shares, compared to its average volume of 2,423,995. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week high of $59.19. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $8.40 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49.
Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 22nd. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.01). Zions Bancorporation NA had a return on equity of 12.24% and a net margin of 27.58%. The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $715.64 million. During the same quarter last year, the business posted $1.09 EPS. Sell-side analysts predict that Zions Bancorporation NA will post 4.48 earnings per share for the current year.
In related news, insider David E. Blackford sold 2,027 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $102,971.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David E. Blackford sold 4,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $50.86, for a total value of $209,441.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,987 shares of company stock valued at $1,558,056. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ZION. Smith Asset Management Group LP bought a new position in Zions Bancorporation NA during the 4th quarter valued at approximately $27,000. First Interstate Bank bought a new position in Zions Bancorporation NA during the 1st quarter valued at approximately $27,000. Buffington Mohr McNeal bought a new position in Zions Bancorporation NA during the 1st quarter valued at approximately $30,000. CSat Investment Advisory L.P. increased its position in Zions Bancorporation NA by 97.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock valued at $31,000 after buying an additional 373 shares in the last quarter. Finally, Doyle Wealth Management bought a new position in Zions Bancorporation NA during the 4th quarter valued at approximately $33,000. 98.34% of the stock is owned by institutional investors.
Zions Bancorporation NA Company Profile
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.
Recommended Story: Book Value Per Share in Stock Trading
Receive News & Ratings for Zions Bancorporation NA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation NA and related companies with MarketBeat.com's FREE daily email newsletter.