Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Lowered to $53.00 at Royal Bank of Canada

Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) had its price objective cut by Royal Bank of Canada from $63.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the bank's stock.

A number of other research firms have also recently commented on ZION. Morgan Stanley cut their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods lowered 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 report on Tuesday, April 22nd. Stephens dropped their price objective on shares of 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. Wells Fargo & Company cut 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 note on Tuesday, April 22nd. Finally, DA Davidson boosted their price target on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $59.00.

Zions Bancorporation, National Association Stock Down 0.9 %

Shares of Zions Bancorporation, National Association stock traded down $0.41 on Tuesday, reaching $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 50 day moving average price of $48.02 and a 200 day moving average price of $53.30. 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 capitalization of $6.62 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same period last year, the business posted $0.96 earnings per share. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

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

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association 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 transaction, the executive vice president now owns 29,313 shares of the company's stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the company's stock in a transaction 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 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. Over the last quarter, insiders sold 33,029 shares of company stock worth $1,855,321. Corporate insiders own 2.22% of the company's stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Hedge funds have recently made changes to their positions in the business. 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 purchasing an additional 183 shares during the last quarter. CIBC Asset Management Inc grew its stake in Zions Bancorporation, National Association by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after acquiring an additional 224 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock valued at $937,000 after purchasing an additional 249 shares during the last quarter. Jackson Creek Investment Advisors LLC increased its position in Zions Bancorporation, National Association by 3.3% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock worth $490,000 after buying an additional 285 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Zions Bancorporation, National Association by 4.7% during the 4th quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock worth $364,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

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.