Zions Bancorporation, National Association (NASDAQ:ZION) Given New $58.00 Price Target at Keefe, Bruyette & Woods

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective lowered by Keefe, Bruyette & Woods from $65.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

A number of other brokerages have also recently issued reports on ZION. Robert W. Baird reduced their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley reduced their price objective on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada boosted their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $59.00.

Zions Bancorporation, National Association Stock Down 1.1 %

Shares of Zions Bancorporation, National Association stock opened at $43.13 on Tuesday. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a market cap of $6.36 billion, a P/E ratio of 8.71, a PEG ratio of 1.61 and a beta of 0.92. The company’s fifty day simple moving average is $48.70 and its two-hundred day simple moving average is $53.36. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

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

Zions Bancorporation, National Association announced that its board has approved a share repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 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.

Zions Bancorporation, National Association Announces Dividend

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

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,029 shares of company stock valued at $1,855,321. 2.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Zions Bancorporation, National Association by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 162,628 shares of the bank’s stock worth $8,109,000 after buying an additional 2,132 shares during the period. Avior Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 16.5% during the 1st quarter. Avior Wealth Management LLC now owns 13,920 shares of the bank’s stock worth $694,000 after buying an additional 1,967 shares during the period. Blue Trust Inc. lifted its position in shares of Zions Bancorporation, National Association by 36.8% in the 1st quarter. Blue Trust Inc. now owns 4,949 shares of the bank’s stock valued at $247,000 after acquiring an additional 1,331 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Zions Bancorporation, National Association by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 17,318 shares of the bank’s stock valued at $863,000 after purchasing an additional 470 shares in the last quarter. Finally, Inscription Capital LLC purchased a new stake in Zions Bancorporation, National Association in the 1st quarter worth about $365,000. 76.84% of the stock is currently owned by institutional investors.

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.