Zions Bancorporation NA (NASDAQ:ZION) Price Target Lowered to $50.00 at SunTrust Banks

Zions Bancorporation NA (NASDAQ:ZION) had its price objective cut by SunTrust Banks from $52.00 to $50.00 in a research report sent to investors on Thursday, The Fly reports. They currently have a buy rating on the bank’s stock. SunTrust Banks also issued estimates for Zions Bancorporation NA’s Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $4.27 EPS, Q2 2020 earnings at $1.11 EPS, Q3 2020 earnings at $1.16 EPS, Q4 2020 earnings at $1.19 EPS and FY2020 earnings at $4.47 EPS.

A number of other brokerages have also recently commented on ZION. BidaskClub cut Zions Bancorporation NA from a hold rating to a sell rating in a report on Wednesday, August 14th. Barclays decreased their target price on 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 raised their target price on Zions Bancorporation NA from $49.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods cut Zions Bancorporation NA from an outperform rating to a market perform rating and decreased their target price for the stock from $53.00 to $47.00 in a report on Tuesday, July 23rd. Finally, Piper Jaffray Companies decreased their target price on Zions Bancorporation NA from $51.00 to $50.00 and set an overweight rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Zions Bancorporation NA has a consensus rating of Hold and a consensus price target of $52.00.

Shares of NASDAQ ZION traded up $0.27 during midday trading on Thursday, hitting $44.90. 216,232 shares of the stock traded hands, compared to its average volume of 2,295,791. The firm has a 50-day moving average of $41.69 and a two-hundred day moving average of $45.43. The firm has a market capitalization of $7.73 billion, a P/E ratio of 10.99, a PEG ratio of 1.29 and a beta of 1.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $52.82.



Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.10). Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $723.21 million. During the same period in the previous year, the company earned $0.89 earnings per share. Equities analysts forecast that Zions Bancorporation NA will post 4.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Wednesday, August 14th. This is a positive change from Zions Bancorporation NA’s previous quarterly dividend of $0.30. Zions Bancorporation NA’s dividend payout ratio is presently 33.33%.

In other news, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Thomas E. Laursen sold 957 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $40.75, for a total value of $38,997.75. The disclosure for this sale can be found here. Insiders sold a total of 20,886 shares of company stock valued at $936,691 in the last quarter. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Meeder Asset Management Inc. grew its stake in Zions Bancorporation NA by 3.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 17,062 shares of the bank’s stock valued at $784,000 after acquiring an additional 622 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Zions Bancorporation NA by 42.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,135,427 shares of the bank’s stock worth $51,560,000 after buying an additional 336,446 shares during the period. Calamos Wealth Management LLC grew its position in shares of Zions Bancorporation NA by 2.7% during the 2nd quarter. Calamos Wealth Management LLC now owns 132,872 shares of the bank’s stock worth $6,109,000 after buying an additional 3,466 shares during the period. Sapience Investments LLC grew its position in shares of Zions Bancorporation NA by 13.7% during the 1st quarter. Sapience Investments LLC now owns 75,550 shares of the bank’s stock worth $3,431,000 after buying an additional 9,080 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Zions Bancorporation NA during the 1st quarter worth about $744,000. Institutional investors own 97.01% of the company’s stock.

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.

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