Zions Bancorporation, National Association (NASDAQ:ZION) PT Lowered to $61.50 at The Goldman Sachs Group

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) had its price target lowered by investment analysts at The Goldman Sachs Group from $75.00 to $61.50 in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 7.82% from the stock’s current price.

A number of other analysts also recently weighed in on ZION. Robert W. Baird upgraded shares of Zions Bancorporation, National Association from an “underperform” rating to a “neutral” rating and increased their price target for the company from $49.00 to $60.00 in a research report on Monday, April 18th. Zacks Investment Research downgraded shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research report on Monday, March 21st. Jefferies Financial Group raised Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and increased their target price for the stock from $70.00 to $87.00 in a research note on Monday, February 14th. B. Riley lowered their target price on Zions Bancorporation, National Association from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 26th. Finally, Wolfe Research lowered their target price on Zions Bancorporation, National Association from $72.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average price target of $68.91.

Zions Bancorporation, National Association stock opened at $57.04 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. Zions Bancorporation, National Association has a 1 year low of $47.06 and a 1 year high of $75.44. The company has a market cap of $8.63 billion, a PE ratio of 9.29, a PEG ratio of 8.62 and a beta of 1.29. The company’s 50-day moving average is $60.20 and its two-hundred day moving average is $64.39.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its quarterly earnings results on Monday, April 25th. The bank reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.12. The business had revenue of $694.00 million for the quarter, compared to the consensus estimate of $700.11 million. Zions Bancorporation, National Association had a net margin of 34.40% and a return on equity of 14.53%. During the same period last year, the company posted $1.90 EPS. Research analysts forecast that Zions Bancorporation, National Association will post 5.61 EPS for the current year.

Zions Bancorporation, National Association declared that its board has authorized a stock repurchase plan on Friday, April 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the bank to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

In other Zions Bancorporation, National Association news, SVP James R. Abbott purchased 10,000 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was acquired at an average price of $57.03 per share, with a total value of $570,300.00. Following the acquisition, the senior vice president now directly owns 77,918 shares of the company’s stock, valued at approximately $4,443,663.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott A. Law sold 713 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $54.16, for a total value of $38,616.08. Following the sale, the executive vice president now directly owns 19,424 shares of the company’s stock, valued at approximately $1,052,003.84. The disclosure for this sale can be found here. 1.81% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Fort Washington Investment Advisors Inc. OH lifted its holdings in Zions Bancorporation, National Association by 20.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 5,190 shares of the bank’s stock valued at $328,000 after purchasing an additional 886 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 3.0% during the third quarter. UBS Asset Management Americas Inc. now owns 369,140 shares of the bank’s stock worth $22,846,000 after buying an additional 10,804 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings 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 in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Zions Bancorporation, National Association by 19.5% during the fourth quarter. Teacher Retirement System of Texas now owns 31,169 shares of the bank’s stock worth $1,969,000 after buying an additional 5,096 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 4.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 26,448 shares of the bank’s stock worth $1,673,000 after buying an additional 1,049 shares in the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.

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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