Keefe, Bruyette & Woods Issues Pessimistic Forecast for Zions Bancorporation, National Association (NASDAQ:ZION) Stock Price

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective lowered by equities researchers at Keefe, Bruyette & Woods from $65.00 to $58.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 32.97% from the stock’s current price.

Several other brokerages have also commented on ZION. Stephens decreased their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased 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 report on Tuesday, January 7th. Finally, Robert W. Baird decreased their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus price target of $59.63.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $43.62 on Tuesday. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $6.44 billion, a PE ratio of 8.81, a PEG ratio of 1.61 and a beta of 0.92. The stock’s fifty day moving average is $48.95 and its 200 day moving average is $53.43.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results 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. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. During the same quarter last year, the company posted $0.96 earnings per share. On average, sell-side analysts anticipate 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 authorized a share buyback program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at $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 SEC, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on 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 sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock worth $1,855,321 in the last quarter. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of large investors have recently modified their holdings of ZION. Curat Global LLC bought a new position in shares of Zions Bancorporation, National Association in the first quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after purchasing an additional 183 shares during the last quarter. Covestor Ltd grew its holdings in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after buying an additional 493 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association in the first quarter valued at about $50,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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.