Argus Upgrades Zions Bancorporation, National Association (NASDAQ:ZION) to Buy

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $55.00 target price on the bank’s stock. Argus’ price objective suggests a potential upside of 21.52% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Robert W. Baird cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Stephens dropped their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Barclays increased their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.76.

Zions Bancorporation, National Association Trading Up 0.7 %

Shares of ZION stock opened at $45.26 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The stock’s 50-day moving average price is $47.59 and its 200-day moving average price is $53.25.

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

Zions Bancorporation, National Association declared that its board has initiated a stock buyback plan on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were 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 in the company, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock valued at $1,855,321 in the last three months. 2.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently bought and sold shares of the business. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, National Association in the first quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in Zions Bancorporation, National Association by 51.1% in 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 during the last quarter. Covestor Ltd grew its position in 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 period. SRS Capital Advisors Inc. raised its stake in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after buying an additional 493 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association in the 1st quarter valued at about $50,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.