B. Riley Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $65.00

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) had its price target reduced by investment analysts at B. Riley from $70.00 to $65.00 in a research report issued to clients and investors on Tuesday, The Fly reports. B. Riley’s price objective suggests a potential upside of 6.40% from the stock’s current price.

ZION has been the topic of a number of other research reports. Robert W. Baird upgraded Zions Bancorporation, National Association from an “underperform” rating to a “neutral” rating and increased their target price for the company from $49.00 to $60.00 in a report on Monday, April 18th. StockNews.com assumed coverage on Zions Bancorporation, National Association in a research note on Thursday, March 31st. They set a “hold” rating on the stock. DA Davidson reissued a “neutral” rating on shares of Zions Bancorporation, National Association in a research note on Tuesday, January 25th. Bank of America lowered Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $65.00 to $68.00 in a research note on Thursday, January 6th. Finally, Raymond James lowered Zions Bancorporation, National Association from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.47.

ZION opened at $61.09 on Tuesday. The stock has a market cap of $9.28 billion, a P/E ratio of 9.02 and a beta of 1.27. 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 stock’s 50 day simple moving average is $66.42 and its 200 day simple moving average is $65.96. Zions Bancorporation, National Association has a 1-year low of $47.06 and a 1-year high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its quarterly earnings results on Monday, April 25th. The bank reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12. Zions Bancorporation, National Association had a return on equity of 15.40% and a net margin of 38.01%. During the same period in the previous year, the company posted $1.90 EPS. Research analysts expect that Zions Bancorporation, National Association will post 5.35 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase plan on Friday, January 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

In other news, EVP Rebecca K. Robinson sold 15,120 shares of the firm’s stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $69.52, for a total transaction of $1,051,142.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP A Scott Anderson sold 30,703 shares of the firm’s stock in a transaction dated Monday, February 14th. The shares were 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. Over the last quarter, insiders sold 50,899 shares of company stock valued at $3,623,797. 1.81% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Cascade Investment Advisors Inc. grew its stake in Zions Bancorporation, National Association by 0.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 28,560 shares of the bank’s stock worth $1,804,000 after purchasing an additional 140 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Zions Bancorporation, National Association by 14.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,454 shares of the bank’s stock worth $92,000 after acquiring an additional 185 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in Zions Bancorporation, National Association by 28.2% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,000 shares of the bank’s stock worth $63,000 after acquiring an additional 220 shares during the last quarter. Horizon Investments LLC lifted its holdings in Zions Bancorporation, National Association by 5.5% in the fourth quarter. Horizon Investments LLC now owns 5,079 shares of the bank’s stock worth $321,000 after acquiring an additional 267 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in Zions Bancorporation, National Association by 4.0% in the third quarter. First Republic Investment Management Inc. now owns 8,738 shares of the bank’s stock worth $541,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 82.12% of the company’s stock.

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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