Zions Bancorporation, National Association (NASDAQ:ZION) Shares Gap Down After Analyst Downgrade

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) shares gapped down prior to trading on Tuesday after Keefe, Bruyette & Woods lowered their price target on the stock from $65.00 to $58.00. The stock had previously closed at $43.62, but opened at $39.90. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Zions Bancorporation, National Association shares last traded at $42.87, with a volume of 552,675 shares traded.

A number of other brokerages have also commented on ZION. Barclays raised their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research report on Wednesday, January 22nd. Stephens reduced their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research note on Tuesday. Morgan Stanley cut their price objective on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Robert W. Baird cut their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association has an average rating of "Hold" and a consensus price target of $59.63.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, 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 three months, insiders sold 33,029 shares of company stock worth $1,855,321. Corporate insiders own 2.22% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Curat Global LLC bought a new stake in shares of Zions Bancorporation, National Association in the first quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after buying an additional 183 shares during the last quarter. Covestor Ltd boosted its stake in Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank's stock valued at $49,000 after purchasing an additional 493 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the first quarter worth about $50,000. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The company has a fifty day moving average price of $48.95 and a two-hundred day moving average price of $53.43. The company has a market cap of $6.31 billion, a P/E ratio of 8.63, a PEG ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million during 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 company posted $0.96 earnings per share. On average, sell-side analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 34.75%.

Zions Bancorporation, National Association announced that its Board of Directors has approved a share buyback plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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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