Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $70.00

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) had its price objective cut by B. Riley from $77.00 to $70.00 in a report published on Tuesday, The Fly reports.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group boosted their price objective on Zions Bancorporation, National Association from $70.00 to $78.00 and gave the stock a neutral rating in a research note on Monday, April 4th. Barclays boosted their price objective on Zions Bancorporation, National Association from $67.00 to $73.00 in a research note on Monday, January 3rd. Raymond James boosted their price objective on Zions Bancorporation, National Association from $80.00 to $84.00 and gave the stock a strong-buy rating in a research note on Friday, March 4th. Zacks Investment Research lowered Zions Bancorporation, National Association from a strong-buy rating to a hold rating and set a $71.00 price objective on the stock. in a research note on Monday, March 21st. Finally, Compass Point raised Zions Bancorporation, National Association from a neutral rating to a buy rating and upped their price target for the company from $70.00 to $80.00 in a research note on Friday, January 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $70.65.

Shares of ZION stock opened at $63.22 on Tuesday. The stock’s fifty day simple moving average is $68.10 and its 200 day simple moving average is $65.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 0.70 and a beta of 1.27. Zions Bancorporation, National Association has a one year low of $47.06 and a one year high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last posted its quarterly earnings data on Monday, January 24th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $743.00 million for the quarter, compared to analyst estimates of $712.71 million. Zions Bancorporation, National Association had a return on equity of 15.40% and a net margin of 38.01%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. On average, research analysts anticipate that Zions Bancorporation, National Association will post 5.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 17th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, February 16th. This represents a $1.52 dividend on an annualized basis and a yield of 2.40%. Zions Bancorporation, National Association’s dividend payout ratio is presently 22.45%.

Zions Bancorporation, National Association announced that its board has approved a share repurchase plan on Friday, January 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 2,047 shares of the stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $74.60, for a total value of $152,706.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP A Scott Anderson sold 30,703 shares of the stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $71.85, for a total value of $2,206,010.55. The disclosure for this sale can be found here. Insiders sold 50,899 shares of company stock valued at $3,623,797 in the last quarter. 1.81% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. increased its holdings in shares of Zions Bancorporation, National Association by 3.0% in the third quarter. UBS Asset Management Americas Inc. now owns 369,140 shares of the bank’s stock worth $22,846,000 after acquiring an additional 10,804 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Zions Bancorporation, National Association by 3.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 74,828 shares of the bank’s stock worth $4,726,000 after buying an additional 2,247 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Zions Bancorporation, National Association by 60.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 49,125 shares of the bank’s stock worth $3,040,000 after buying an additional 18,495 shares during the period. Xponance Inc. boosted its position in shares of Zions Bancorporation, National Association by 16.9% during the fourth quarter. Xponance Inc. now owns 9,687 shares of the bank’s stock worth $612,000 after buying an additional 1,400 shares during the period. Finally, CX Institutional boosted its position in shares of Zions Bancorporation, National Association by 3.2% during the third quarter. CX Institutional now owns 23,570 shares of the bank’s stock worth $1,459,000 after buying an additional 735 shares during the period. Institutional investors own 82.12% of the company’s stock.

About Zions Bancorporation, National Association (Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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