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

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price cut by equities research analysts at Stephens from $54.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective suggests a potential upside of 19.21% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. DA Davidson upped their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley decreased their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus target price of $61.06.

Zions Bancorporation, National Association Stock Down 1.5 %

Shares of ZION opened at $43.62 on Tuesday. The stock’s 50-day moving average price is $48.95 and its 200-day moving average price is $53.43. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations 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 earned $0.96 EPS. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has approved a share repurchase program on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

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

Institutional Trading of Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Avior Wealth Management LLC grew its stake in shares of Zions Bancorporation, National Association by 16.5% in the first quarter. Avior Wealth Management LLC now owns 13,920 shares of the bank’s stock valued at $694,000 after buying an additional 1,967 shares in the last quarter. Blue Trust Inc. boosted its holdings in Zions Bancorporation, National Association by 36.8% during the 1st quarter. Blue Trust Inc. now owns 4,949 shares of the bank’s stock valued at $247,000 after acquiring an additional 1,331 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Zions Bancorporation, National Association by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 17,318 shares of the bank’s stock worth $863,000 after purchasing an additional 470 shares in the last quarter. Inscription Capital LLC acquired a new position in shares of Zions Bancorporation, National Association in the first quarter valued at approximately $365,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Zions Bancorporation, National Association during the 1st quarter worth approximately $3,383,000. 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.