Brokerages Set Zions Bancorporation, National Association (NASDAQ:ZION) Price Target at $58.47

Shares of Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) have been assigned an average rating of "Hold" from the eighteen brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $58.47.

Several research firms recently commented on ZION. DA Davidson raised 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 report on Wednesday, January 22nd. Royal Bank of Canada decreased their price objective on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. Barclays raised their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a research report on Wednesday, January 22nd. Stephens reduced their price target 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. Finally, Robert W. Baird lowered their price target on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock traded down $0.16 during midday trading on Wednesday, hitting $49.06. 191,297 shares of the company were exchanged, compared to its average volume of 1,576,936. The business has a fifty day simple moving average of $46.48 and a two-hundred day simple moving average of $52.88. 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 firm has a market capitalization of $7.24 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. 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 quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business 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 last year, the company earned $0.96 EPS. On average, sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 33.59%.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 18th. The shares were 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.22% of the company's stock.

Institutional Trading of Zions Bancorporation, National Association

Several hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in Zions Bancorporation, National Association in the fourth quarter worth approximately $389,000. Strategic Financial Concepts LLC purchased a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $2,538,000. Polymer Capital Management US LLC acquired a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at $229,000. SG Americas Securities LLC grew its holdings in shares of Zions Bancorporation, National Association by 244.8% during the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank's stock worth $1,541,000 after purchasing an additional 20,167 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth $4,237,000. Hedge funds and other institutional investors 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.