Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Lowered to $53.00 at Royal Bank of Canada

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target reduced by Royal Bank of Canada from $63.00 to $53.00 in a research note released on Tuesday,Benzinga reports. They currently have a sector perform rating on the bank’s stock.

A number of other equities research analysts have also commented on the stock. Morgan Stanley reduced their price objective on shares of 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. Stephens cut their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their price objective on Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday. Barclays upped their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their target price 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus target price of $59.00.

Zions Bancorporation, National Association Stock Performance

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

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to analyst estimates 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 EPS. On average, equities analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its board has authorized a stock repurchase program on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is 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 paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the company’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 transaction, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $1,655,305.11. This trade represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,029 shares of company stock worth $1,855,321 over the last three months. 2.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

Several hedge funds have recently bought and sold shares of ZION. EverSource Wealth Advisors LLC raised its stake in Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after acquiring an additional 183 shares during the period. CIBC Asset Management Inc raised its position in shares of Zions Bancorporation, National Association by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock valued at $245,000 after purchasing an additional 224 shares during the period. Contravisory Investment Management Inc. raised its position in shares of Zions Bancorporation, National Association by 1.5% during the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock valued at $937,000 after purchasing an additional 249 shares during the period. Jackson Creek Investment Advisors LLC lifted its stake in shares of Zions Bancorporation, National Association by 3.3% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank’s stock valued at $490,000 after buying an additional 285 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Zions Bancorporation, National Association by 4.7% in the 4th quarter. Blair William & Co. IL now owns 6,713 shares of the bank’s stock worth $364,000 after buying an additional 303 shares during the period. Institutional investors 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.