Wall Street Zen Upgrades Zions Bancorporation, National Association (NASDAQ:ZION) to "Hold"

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

A number of other analysts have also weighed in on the company. Morgan Stanley dropped 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 note on Thursday, March 13th. Wells Fargo & Company dropped their price objective 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. Keefe, Bruyette & Woods dropped their price objective on Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird dropped their price target on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Argus raised Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Zions Bancorporation, National Association presently has an average rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION traded down $1.29 on Friday, reaching $47.43. 1,093,084 shares of the company's stock traded hands, compared to its average volume of 1,567,768. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. 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 50-day simple moving average of $46.42 and a 200 day simple moving average of $51.52. The stock has a market cap of $7.00 billion, a PE ratio of 9.58, a P/E/G ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $795.00 million for the quarter, compared to analysts' expectations of $792.49 million. During the same period last year, the business earned $0.96 earnings per share. As a group, research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.63%. Zions Bancorporation, National Association's payout ratio is 33.59%.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Large investors have recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new stake in Zions Bancorporation, National Association in the 1st quarter worth about $25,000. Curat Global LLC bought a new stake in Zions Bancorporation, National Association in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock worth $29,000 after buying an additional 183 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Zions Bancorporation, National Association in the 1st quarter worth about $40,000. Finally, Covestor Ltd increased its holdings in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after buying an additional 479 shares in 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.