Zions Bancorp (ZION) Sees Strong Trading Volume
Zions Bancorp (NASDAQ:ZION) shares saw unusually-high trading volume on Thursday . Approximately 2,489,420 shares were traded during mid-day trading, an increase of 3% from the previous session’s volume of 2,407,562 shares.The stock last traded at $30.61 and had previously closed at $30.59.
ZION has been the subject of several analyst reports. Vetr downgraded Zions Bancorp from a “sell” rating to a “strong sell” rating and set a $26.45 price target for the company. in a report on Monday. Raymond James Financial Inc. upgraded Zions Bancorp from a “market perform” rating to a “strong-buy” rating in a report on Monday, May 9th. Bank of America Corp. downgraded Zions Bancorp from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. TheStreet downgraded Zions Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Compass Point boosted their price target on Zions Bancorp from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, May 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.22.
The stock’s 50 day moving average price is $28.12 and its 200 day moving average price is $26.14. The company has a market cap of $6.27 billion and a price-to-earnings ratio of 18.43.
Zions Bancorp (NASDAQ:ZION) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. During the same quarter last year, the business earned $0.41 earnings per share. Equities research analysts forecast that Zions Bancorp will post $1.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 18th were given a $0.08 dividend. This is a boost from Zions Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, August 16th. This represents a $0.32 annualized dividend and a yield of 1.05%.
In other news, insider Mark Richard Young sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $20.72, for a total transaction of $1,346,800.00. Following the completion of the transaction, the insider now directly owns 56,245 shares of the company’s stock, valued at approximately $1,165,396.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith D. Maio sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.97, for a total transaction of $251,730.00. Following the transaction, the executive vice president now directly owns 44,072 shares of the company’s stock, valued at $1,232,693.84. The disclosure for this sale can be found here.
Zions Bancorporation is a financial holding company. The Company operates through seven segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and The Commerce Bank of Washington. It focuses on providing community banking services and its core business lines are 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; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting, and investment activities.
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