Robert W. Baird Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $55.00

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) had its price target dropped by Robert W. Baird from $58.00 to $55.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Robert W. Baird's price objective points to a potential upside of 22.66% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, January 22nd. DA Davidson upped their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Stephens dropped 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 report on Tuesday, April 22nd. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. Finally, Barclays lifted their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of "Hold" and an average price target of $59.00.

Zions Bancorporation, National Association Price Performance

Shares of ZION stock traded down $0.41 during trading hours on Tuesday, hitting $44.84. The stock had a trading volume of 992,928 shares, compared to its average volume of 1,571,830. 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 stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22. The stock's 50-day moving average price is $48.02 and its two-hundred day moving average price is $53.30.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $0.96 earnings per share. Equities analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

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

Insider Activity

In related news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on 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 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 ownership of the stock. The sale 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 company's stock in a transaction 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 sale, the executive vice president now owns 29,313 shares of the company's stock, 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. Over the last 90 days, insiders have sold 33,029 shares of company stock worth $1,855,321. Company insiders own 2.22% of the company's stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of large investors have recently added to or reduced their stakes in ZION. Norges Bank purchased a new position in shares of Zions Bancorporation, National Association in the 4th quarter worth approximately $73,542,000. Balyasny Asset Management L.P. boosted its stake in Zions Bancorporation, National Association by 249.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after acquiring an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Zions Bancorporation, National Association in the fourth quarter worth $51,116,000. Boston Partners acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth $33,961,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Zions Bancorporation, National Association by 5,690.4% during the 1st quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock valued at $27,468,000 after purchasing an additional 541,389 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

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.