Zions Bancorporation, National Association (NASDAQ:ZION) Given New $55.00 Price Target at Robert W. Baird

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lowered by research analysts at Robert W. Baird from $58.00 to $55.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Robert W. Baird’s target price points to a potential upside of 24.10% from the company’s current price.

ZION has been the topic of a number of other research reports. Barclays increased their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. Stephens cut their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their target price on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Morgan Stanley lowered their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $59.00.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION opened at $44.32 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The stock has a market capitalization of $6.54 billion, a P/E ratio of 8.95, a P/E/G ratio of 1.61 and a beta of 0.92. The business has a 50-day moving average price of $48.47 and a two-hundred day moving average price of $53.30.

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

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

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, 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 value of $557,100.00. Following the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,029 shares of company stock worth $1,855,321. Corporate insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently made changes to their positions in ZION. Curat Global LLC acquired a new position in Zions Bancorporation, National Association during the first quarter worth $25,000. EverSource Wealth Advisors LLC grew its position in shares of Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares during the period. Covestor Ltd increased its stake in shares of Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after purchasing an additional 479 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in Zions Bancorporation, National Association in the 1st quarter valued at about $50,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Company Profile

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.