Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $47.00 by Analysts at Wells Fargo & Company

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective decreased by Wells Fargo & Company from $58.00 to $47.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their target price on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Robert W. Baird lowered their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday. Stephens reduced their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.00.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $43.13 on Tuesday. The stock has a market cap 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 has a twelve month low of $39.32 and a twelve month high of $63.22. The stock has a fifty day simple moving average of $48.70 and a 200-day simple moving average of $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 posted 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 analyst estimates of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the prior year, the company earned $0.96 EPS. Equities analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its board has initiated a share buyback program on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board 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. Shareholders of record on Thursday, February 13th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the business’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock valued at $1,855,321 over the last quarter. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

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

Zions Bancorporation, National Association Company Profile

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.