Stephens Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $52.00

Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) had its target price reduced by Stephens from $54.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. Stephens currently has an equal weight rating on the bank's stock.

A number of other equities analysts also recently commented on ZION. Wells Fargo & Company lowered their target price on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 22nd. DA Davidson boosted their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Barclays boosted 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 report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of "Hold" and an average price target of $59.00.

Zions Bancorporation, National Association Stock Down 0.9 %

ZION stock traded down $0.41 during mid-day trading on Tuesday, reaching $44.84. The company had a trading volume of 992,928 shares, compared to its average volume of 1,571,830. The firm has a fifty day simple moving average of $48.02 and a 200 day simple moving average of $53.30. 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 market capitalization of $6.62 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $795.00 million for the quarter, compared to analysts' expectations of $792.49 million. During the same quarter last year, the company earned $0.96 earnings per share. Analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its board has approved a stock buyback plan on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.84%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the 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 sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association 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 transaction, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,029 shares of company stock valued at $1,855,321. 2.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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