Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Lowered to $52.00 at Stephens

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective decreased by Stephens from $54.00 to $52.00 in a research note published on Tuesday morning,Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

A number of other brokerages have also recently commented on ZION. Wells Fargo & Company dropped their price target on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada increased their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, DA Davidson lifted their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.00.

Zions Bancorporation, National Association Trading Down 1.1 %

NASDAQ:ZION opened at $43.13 on Tuesday. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22. The firm has a 50-day moving average price of $48.70 and a two-hundred day moving average price of $53.36. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter last year, the company posted $0.96 earnings per share. On average, equities analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has approved a share repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several hedge funds have recently modified their holdings of ZION. Curat Global LLC purchased a new position in shares of Zions Bancorporation, National Association in the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares in the last quarter. Covestor Ltd grew its stake in Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after purchasing an additional 479 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Zions Bancorporation, National Association by 120.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after purchasing an additional 493 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Zions Bancorporation, National Association during the first quarter valued at about $50,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.