Royal Bank of Canada Has Lowered Expectations for Zions Bancorporation, National Association (NASDAQ:ZION) Stock Price

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) had its target price lowered by analysts at Royal Bank of Canada from $63.00 to $53.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the bank's stock. Royal Bank of Canada's price objective would suggest a potential upside of 24.42% from the stock's previous close.

A number of other research firms have also weighed in on ZION. Robert W. Baird dropped their target price on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods cut their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their target price 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 note on Tuesday. 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 for the company in a research report on Tuesday, January 7th. Finally, 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. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $59.00.

Zions Bancorporation, National Association Stock Down 2.3 %

NASDAQ ZION traded down $1.02 during mid-day trading on Tuesday, hitting $42.60. The company's stock had a trading volume of 789,759 shares, compared to its average volume of 1,579,360. 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 company's 50 day simple moving average is $48.95 and its 200 day simple moving average is $53.43. Zions Bancorporation, National Association has a twelve month low of $39.29 and a twelve month high of $63.22. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its 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. The company had revenue of $795.00 million for the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.96 EPS. Analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the 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 sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $1,280,344.31. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 33,029 shares of company stock worth $1,855,321 over the last 90 days. 2.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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