Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) from a sell rating to a hold rating in a report released on Saturday.

A number of other research firms have also recently weighed in on ZION. Royal Bank Of Canada lowered their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $53.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. Stephens lowered their price target on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Argus raised Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Monday, April 28th. Morgan Stanley decreased their target price on Zions Bancorporation, N.A. from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company dropped their target price on Zions Bancorporation, N.A. from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, N.A. Trading Down 1.2%

NASDAQ:ZION traded down $0.57 on Friday, reaching $47.28. The company's stock had a trading volume of 1,590,474 shares, compared to its average volume of 1,567,834. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The stock has a 50 day moving average price of $46.57 and a 200 day moving average price of $51.28. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.64%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 33.59%.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a stock repurchase program on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several institutional investors have recently added to or reduced their stakes in ZION. AQR Capital Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 326.4% during the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock worth $139,927,000 after buying an additional 2,194,514 shares during the last quarter. Norges Bank purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $73,542,000. Balyasny Asset Management L.P. increased its position in shares of Zions Bancorporation, N.A. 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 purchasing an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $51,116,000. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Zions Bancorporation, N.A. by 57.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock valued at $106,368,000 after purchasing an additional 778,861 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. 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.