Zions Bancorporation, National Association (NASDAQ:ZION) Sets New 1-Year Low - Here's What Happened

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report)'s stock price hit 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird decreased their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley decreased 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 report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $58.76.

Zions Bancorporation, National Association Price Performance

The stock's 50 day moving average is $47.15 and its two-hundred day moving average is $53.14. 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 stock has a market capitalization of $6.88 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same period in the prior year, the company earned $0.96 EPS. On average, equities analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.69%. Zions Bancorporation, National Association's dividend payout ratio is currently 33.59%.

Zions Bancorporation, National Association announced that its board has approved a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on 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 completion of the sale, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,029 shares of company stock worth $1,855,321. 1.77% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Zions Bancorporation, National Association by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock valued at $1,032,775,000 after acquiring an additional 285,588 shares during the period. Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation, National Association by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank's stock worth $369,295,000 after purchasing an additional 175,656 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after purchasing an additional 194,995 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Zions Bancorporation, National Association by 0.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank's stock worth $146,396,000 after buying an additional 14,070 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Zions Bancorporation, National Association by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after buying an additional 390,601 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other 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.