Stock Repurchase Plan Authorized by Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) declared that its board has approved a stock buyback plan on Monday, February 24th, RTT News reports. The company plans to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

ZION has been the subject of several research reports. UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a "neutral" rating and a $64.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on 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. Compass Point lifted their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Barclays upped their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price objective on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association has an average rating of "Hold" and an average price target of $60.71.

Zions Bancorporation, National Association Stock Performance

ZION traded up $0.40 on Friday, hitting $54.04. The company's stock had a trading volume of 1,207,087 shares, compared to its average volume of 1,275,550. Zions Bancorporation, National Association has a 12 month low of $38.01 and a 12 month high of $63.22. The firm has a market cap of $7.98 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. 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's 50 day simple moving average is $55.90 and its 200-day simple moving average is $53.36.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. Analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.18%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is currently 34.75%.

Insider Transactions 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 stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is currently owned by company insiders.

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.