Zions Bancorporation, National Association (NASDAQ:ZION) Upgraded to “Neutral” at Robert W. Baird

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) was upgraded by stock analysts at Robert W. Baird from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

ZION has been the subject of several other reports. StockNews.com started coverage on Zions Bancorporation, National Association in a report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group increased their price target on Zions Bancorporation, National Association from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Bank of America cut Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $65.00 to $68.00 in a research report on Thursday, January 6th. B. Riley cut their price objective on Zions Bancorporation, National Association from $77.00 to $70.00 in a research report on Tuesday, April 12th. Finally, Raymond James increased 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 report on Friday, March 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.65.

ZION stock opened at $62.92 on Monday. The company has a market capitalization of $9.56 billion, a P/E ratio of 9.29, a PEG ratio of 0.67 and a beta of 1.27. Zions Bancorporation, National Association has a twelve month low of $47.06 and a twelve month high of $75.44. The business has a 50 day simple moving average of $67.67 and a 200-day simple moving average of $65.97. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.27.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last issued its quarterly earnings results on Monday, January 24th. The bank reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.01. Zions Bancorporation, National Association had a return on equity of 15.40% and a net margin of 38.01%. The firm had revenue of $743.00 million during the quarter, compared to the consensus estimate of $712.71 million. During the same period last year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that Zions Bancorporation, National Association will post 5.35 EPS for the current fiscal year.

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

In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 2,047 shares of the firm’s 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 document filed with the SEC, which can be accessed through this hyperlink. Also, VP A Scott Anderson sold 30,703 shares of the firm’s 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. In the last ninety days, insiders have sold 50,899 shares of company stock worth $3,623,797. Corporate insiders own 1.81% of the company’s stock.

A number of large investors have recently modified their holdings of ZION. Allspring Global Investments Holdings LLC acquired a new stake in Zions Bancorporation, National Association in the 4th quarter worth about $104,419,000. Norges Bank acquired a new stake in Zions Bancorporation, National Association in the 4th quarter worth about $96,504,000. American Century Companies Inc. boosted its stake in Zions Bancorporation, National Association by 3,708.0% in the 3rd quarter. American Century Companies Inc. now owns 621,203 shares of the bank’s stock worth $38,447,000 after buying an additional 604,890 shares during the last quarter. Nordea Investment Management AB boosted its stake in Zions Bancorporation, National Association by 93.2% in the 3rd quarter. Nordea Investment Management AB now owns 1,052,652 shares of the bank’s stock worth $66,548,000 after buying an additional 507,800 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Zions Bancorporation, National Association by 208.9% in the 3rd quarter. Millennium Management LLC now owns 599,410 shares of the bank’s stock worth $37,097,000 after buying an additional 405,374 shares during the last quarter. 82.12% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Company Profile (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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