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

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) had its target price reduced by equities researchers at Stephens from $54.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the bank's stock. Stephens' target price would suggest a potential upside of 19.21% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. DA Davidson raised their target price on shares of 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. cut their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley reduced their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group upgraded 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. Finally, Keefe, Bruyette & Woods increased their target price on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 22nd. One 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $61.06.

Zions Bancorporation, National Association Trading Down 1.5 %

Shares of NASDAQ ZION opened at $43.62 on Tuesday. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The business's 50 day moving average is $48.95 and its two-hundred day moving average is $53.43. The stock has a market capitalization of $6.44 billion, a P/E ratio of 8.81, a PEG ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.96 EPS. As a group, research analysts expect 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 initiated a share 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 shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 directly owns 45,847 shares of the company's stock, valued at $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 available through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business'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 directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents 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 valued at $1,855,321 in the last 90 days. Insiders own 2.22% of the company's stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently made changes to their positions in ZION. Stifel Financial Corp grew its stake in Zions Bancorporation, National Association by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 19,663 shares of the bank's stock valued at $928,000 after purchasing an additional 426 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Zions Bancorporation, National Association during the third quarter worth about $224,000. Virtu Financial LLC purchased a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $583,000. Sanctuary Advisors LLC acquired a new position in Zions Bancorporation, National Association in the 3rd quarter worth approximately $226,000. Finally, Franklin Resources Inc. raised its position in Zions Bancorporation, National Association by 13.6% during the 3rd quarter. Franklin Resources Inc. now owns 203,567 shares of the bank's stock worth $10,195,000 after buying an additional 24,414 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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.

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