Wells Fargo & Company Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $58.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective reduced by Wells Fargo & Company from $62.00 to $58.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities research analysts have also weighed in on ZION. The Goldman Sachs Group raised 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. Barclays lifted their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. UBS Group started coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, DA Davidson boosted 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 report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.94.

Zions Bancorporation, National Association Stock Down 1.6 %

Zions Bancorporation, National Association stock opened at $49.47 on Friday. The firm has a 50 day moving average price of $53.66 and a 200-day moving average price of $53.77. 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 $39.05 and a twelve month high of $63.22. The company has a market capitalization of $7.30 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. Zions Bancorporation, National Association’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction 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 completion of the sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,713 shares of company stock valued at $1,839,686 in the last quarter. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after acquiring an additional 479 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Zions Bancorporation, National Association during the 4th quarter valued at $62,000. Finally, Natixis purchased a new position in Zions Bancorporation, National Association in the 4th quarter worth $102,000. 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.