Zions Bancorp (ZION) Sees Large Volume Increase
Zions Bancorp (NASDAQ:ZION) shares saw unusually-strong trading volume on Thursday . Approximately 2,489,420 shares traded hands during 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.
A number of equities research analysts have weighed in on ZION shares. Raymond James Financial Inc. upgraded Zions Bancorp from a “market perform” rating to a “strong-buy” rating in a research note on Monday, May 9th. Compass Point increased their target price on Zions Bancorp from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, May 12th. Vetr raised Zions Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, May 16th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Zions Bancorp in a report on Sunday, May 22nd. Finally, Susquehanna raised Zions Bancorp from a “neutral” rating to a “positive” rating and increased their target price for the stock from $25.00 to $36.00 in a report on Tuesday, June 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.22.
The company has a market cap of $6.35 billion and a price-to-earnings ratio of 18.67. The stock has a 50-day moving average price of $28.26 and a 200 day moving average price of $26.17.
Zions Bancorp (NASDAQ:ZION) last announced its earnings results on Tuesday, July 26th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. During the same period last year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that Zions Bancorp will post $1.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 18th were issued a $0.08 dividend. This is an increase from Zions Bancorp’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 16th.
In other news, insider David E. Blackford sold 1,620 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.81, for a total value of $45,052.20. Following the transaction, the insider now directly owns 29,429 shares of the company’s stock, valued at approximately $818,420.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Richard Young sold 65,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $20.72, for a total value of $1,346,800.00. Following the completion of the transaction, the insider now directly owns 56,245 shares in the company, valued at $1,165,396.40. 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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