Zions Bancorporation, National Association (NASDAQ:ZION) Stock Rating Lowered by Wall Street Zen

Wall Street Zen cut shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) from a hold rating to a sell rating in a research report report published on Thursday morning.

A number of other research firms also recently issued reports on ZION. Argus raised Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Monday, April 28th. Wells Fargo & Company decreased 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 report on Tuesday, April 22nd. Keefe, Bruyette & Woods decreased their target price on Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Barclays upped their target price on 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. Finally, Jefferies Financial Group started coverage on Zions Bancorporation, National Association in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $57.94.

Zions Bancorporation, National Association Trading Up 1.8%

Zions Bancorporation, National Association stock traded up $0.86 during trading on Thursday, hitting $47.44. The company's stock had a trading volume of 319,485 shares, compared to its average volume of 1,575,248. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.61 and a beta of 0.88. The stock's fifty day moving average is $46.37 and its 200 day moving average is $52.55. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating 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 analyst estimates of $792.49 million. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

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

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently bought and sold shares of ZION. Diversify Wealth Management LLC acquired a new stake in Zions Bancorporation, National Association during the fourth quarter valued at approximately $201,000. Atomi Financial Group Inc. raised its position in shares of Zions Bancorporation, National Association by 9.7% during the 4th quarter. Atomi Financial Group Inc. now owns 6,026 shares of the bank's stock worth $327,000 after purchasing an additional 534 shares during the period. SG Americas Securities LLC raised its position 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. Impact Partnership Wealth LLC raised its position in shares of Zions Bancorporation, National Association by 7.3% during the 4th quarter. Impact Partnership Wealth LLC now owns 6,117 shares of the bank's stock worth $332,000 after purchasing an additional 415 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Zions Bancorporation, National Association by 42.0% during the 4th quarter. Blue Trust Inc. now owns 12,727 shares of the bank's stock worth $690,000 after purchasing an additional 3,765 shares during the period. 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.