Keefe, Bruyette & Woods Cuts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $58.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target reduced by Keefe, Bruyette & Woods from $65.00 to $58.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

ZION has been the topic of several other research reports. Wells Fargo & Company dropped their price objective on Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Barclays upped their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 22nd. Stephens lowered their price target 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. Finally, DA Davidson lifted their price objective on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average target price of $59.00.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $45.25 on Tuesday. The company has a fifty day moving average price of $48.26 and a 200-day moving average price of $53.28. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22.

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

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its board 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 reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors have recently made changes to their positions in ZION. Curat Global LLC purchased a new position in shares of Zions Bancorporation, National Association in the first quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Zions Bancorporation, National Association by 51.1% during the 4th 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 shares of Zions Bancorporation, National Association by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after purchasing an additional 479 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of 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 during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Zions Bancorporation, National Association in the first quarter worth about $50,000. Hedge funds and other 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.