Zions Bancorporation, National Association (NASDAQ:ZION) Given New $55.00 Price Target at Robert W. Baird

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target trimmed by Robert W. Baird from $58.00 to $55.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other research firms have also recently weighed in on ZION. Royal Bank of Canada lifted their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, January 22nd. DA Davidson lifted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Stephens decreased their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays raised their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their target price on 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $59.00.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $43.13 on Tuesday. The firm has a fifty day simple moving average of $48.70 and a two-hundred day simple moving average of $53.36. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a market capitalization of $6.36 billion, a PE ratio of 8.71, a P/E/G ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter last year, the business earned $0.96 earnings per share. Research analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.99%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, February 12th. The shares were 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 in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,029 shares of company stock valued at $1,855,321. 2.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its holdings in Zions Bancorporation, National Association by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 162,628 shares of the bank’s stock valued at $8,109,000 after acquiring an additional 2,132 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 16.5% in the first quarter. Avior Wealth Management LLC now owns 13,920 shares of the bank’s stock valued at $694,000 after purchasing an additional 1,967 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Zions Bancorporation, National Association by 36.8% in the first quarter. Blue Trust Inc. now owns 4,949 shares of the bank’s stock valued at $247,000 after purchasing an additional 1,331 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Zions Bancorporation, National Association by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 17,318 shares of the bank’s stock worth $863,000 after buying an additional 470 shares in the last quarter. Finally, Inscription Capital LLC acquired a new position in Zions Bancorporation, National Association during the first quarter worth $365,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

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.