Argus Upgrades Zions Bancorporation, National Association (NASDAQ:ZION) to Buy

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage currently has a $55.00 target price on the bank's stock. Argus' price target points to a potential upside of 22.66% from the company's current price.

Several other research firms also recently commented on ZION. Wells Fargo & Company dropped their target price on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. 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 report on Tuesday, April 22nd. The Goldman Sachs Group raised 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. Keefe, Bruyette & Woods dropped their target price on Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, DA Davidson increased their price target 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. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and a consensus target price of $58.76.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $44.84 on Monday. 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 firm has a market cap of $6.62 billion, a PE ratio of 9.06, a PEG ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a fifty day moving average price of $48.02 and a 200 day moving average price of $53.34.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.96 EPS. Research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association declared that its board has approved 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 repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $1,280,344.31. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock valued at $1,855,321 over the last 90 days. Corporate insiders own 2.22% of the company's stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several institutional investors have recently modified their holdings of ZION. Virtu Financial LLC acquired a new stake in Zions Bancorporation, National Association during the third quarter worth approximately $583,000. Sanctuary Advisors LLC bought a new position in Zions Bancorporation, National Association during the 3rd quarter valued at $226,000. Franklin Resources Inc. raised its stake in Zions Bancorporation, National Association by 13.6% in the 3rd quarter. Franklin Resources Inc. now owns 203,567 shares of the bank's stock valued at $10,195,000 after acquiring an additional 24,414 shares during the period. GAMMA Investing LLC raised its holdings in shares of Zions Bancorporation, National Association by 4.4% in the 4th quarter. GAMMA Investing LLC now owns 9,514 shares of the bank's stock valued at $516,000 after acquiring an additional 403 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Zions Bancorporation, National Association by 6.3% during the fourth quarter. Nordea Investment Management AB now owns 225,840 shares of the bank's stock valued at $12,306,000 after buying an additional 13,329 shares during the period. 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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