Wells Fargo & Company Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $47.00

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $58.00 to $47.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Wells Fargo & Company's price objective would indicate a potential upside of 7.75% from the company's current price.

ZION has been the subject of a number of other reports. Robert W. Baird cut their target price on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday. DA Davidson boosted their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research report on Tuesday, January 7th. Stephens lowered their price objective 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 note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and an average target price of $60.38.

Zions Bancorporation, National Association Stock 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 stock has a market cap of $6.44 billion, a P/E ratio of 8.81, a P/E/G ratio of 1.61 and a beta of 0.92. The firm has a fifty day moving average price of $48.95 and a 200 day moving average price of $53.43. 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 (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm 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 period last year, the firm posted $0.96 EPS. Sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 completion of the sale, the executive vice president now owns 45,847 shares of the company's stock, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,029 shares of company stock worth $1,855,321. 2.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZION. Vanguard Group Inc. increased its holdings in Zions Bancorporation, National Association by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock valued at $1,032,775,000 after buying an additional 285,588 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Zions Bancorporation, National Association by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after purchasing an additional 175,656 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock valued at $264,902,000 after purchasing an additional 194,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Zions Bancorporation, National Association by 0.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock valued at $146,396,000 after buying an additional 14,070 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Zions Bancorporation, National Association by 20.8% during the 4th quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after buying an additional 390,601 shares during the last quarter. 76.84% of the stock is 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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