Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Crosses Below 50-Day Moving Average - Should You Sell?

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report)'s stock price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $65.44 and traded as low as $64.74. Zions Bancorporation, N.A. shares last traded at $65.41, with a volume of 1,685,431 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird raised Zions Bancorporation, N.A. from a "neutral" rating to an "outperform" rating and set a $75.00 price objective for the company in a report on Thursday, October 15th. DA Davidson upped their price objective on shares of Zions Bancorporation, N.A. from $79.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, October 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. TD Cowen reaffirmed a "hold" rating and issued a $69.00 target price on shares of Zions Bancorporation, N.A. in a research note on Tuesday, October 20th. Finally, Piper Sandler lifted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $69.00 and gave the company a "neutral" rating in a research report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $73.44.

Zions Bancorporation, N.A. Stock Down 0.4%

The stock has a 50-day simple moving average of $65.44 and a two-hundred day simple moving average of $63.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The firm has a market cap of $9.55 billion, a PE ratio of 8.03, a P/E/G ratio of 1.04 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.77% and a net margin of 24.81%. The firm had revenue of $887.00 million during the quarter, compared to analyst estimates of $889.52 million. During the same quarter in the previous year, the company posted $1.48 earnings per share. Analysts expect that Zions Bancorporation, N.A. will post 6.67 earnings per share for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock buyback program on Thursday, July 30th that permits the company to repurchase $75 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 0.7% of its shares through open market purchases. Share repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Scott Law sold 4,608 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares in the company, valued at $2,381,893.80. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Scott Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the transaction, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 87,893 shares of company stock valued at $6,221,591. 1.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at about $87,961,000. Deutsche Bank AG bought a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $71,767,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $4,933,000. Bank of America Corp DE purchased a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $40,776,000. Finally, Amundi lifted its holdings in Zions Bancorporation, N.A. by 415.2% in the 2nd quarter. Amundi now owns 189,013 shares of the bank's stock worth $13,078,000 after buying an additional 152,328 shares during the period. Institutional investors own 76.84% of the company's stock.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and related financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, small-business banking, consumer loans, residential mortgages, deposit accounts, treasury management, investment services, and private banking.

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