Zions Bancorporation, National Association (NASDAQ:ZION) Sets New 52-Week Low - What's Next?

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $43.64 and last traded at $44.97, with a volume of 1595888 shares. The stock had previously closed at $45.26.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZION shares. Stephens decreased their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. DA Davidson increased their price target 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. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a research report on Tuesday, January 7th. 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 upgraded shares of Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $58.76.

Zions Bancorporation, National Association Price Performance

The firm has a market cap of $6.74 billion, a P/E ratio of 9.25, a PEG ratio of 1.61 and a beta of 0.88. 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's 50-day simple moving average is $47.01 and its two-hundred day simple moving average is $53.13.

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 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 company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. During the same period in the prior year, the firm posted $0.96 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, May 15th. Zions Bancorporation, National Association's dividend payout ratio is currently 33.59%.

Zions Bancorporation, National Association declared that its board has initiated a share buyback plan on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly 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. Insiders have sold 33,029 shares of company stock valued at $1,855,321 in the last quarter. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZION. Fisher Asset Management LLC purchased a new position in Zions Bancorporation, National Association during the fourth quarter valued at approximately $389,000. Strategic Financial Concepts LLC bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at $2,538,000. Polymer Capital Management US LLC bought a new position in shares of Zions Bancorporation, National Association in the 4th quarter worth $229,000. SG Americas Securities LLC lifted its stake 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 last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Zions Bancorporation, National Association during the fourth quarter valued at about $4,237,000. 76.84% of the stock is currently owned by institutional investors.

About Zions Bancorporation, National Association

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.