Zions Bancorporation, National Association (NASDAQ:ZION) Given New $47.00 Price Target at Wells Fargo & Company

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

Several other equities research analysts also recently weighed in on the company. Morgan Stanley decreased their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada lifted 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 note on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their target price 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. The Goldman Sachs Group raised 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 research report on Tuesday, January 7th. Finally, Barclays lifted their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.00.

Zions Bancorporation, National Association Stock Up 2.1 %

ZION opened at $45.25 on Tuesday. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22. The firm has a 50 day moving average price of $48.26 and a 200 day moving average price of $53.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $6.68 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data 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 company 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 in the prior year, the business earned $0.96 earnings per share. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

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 3.80%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is presently 34.75%.

Zions Bancorporation, National Association announced that its board has authorized a stock repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire 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 shares are undervalued.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the company’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 transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now directly 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 three months, insiders have sold 33,029 shares of company stock valued at $1,855,321. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several large investors have recently added to or reduced their stakes in the stock. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, National Association in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares during the period. Covestor Ltd increased its stake in shares of Zions Bancorporation, National Association by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after purchasing an additional 479 shares during the period. SRS Capital Advisors Inc. raised its holdings in shares of Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after buying an additional 493 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the first quarter worth approximately $50,000. 76.84% of the stock is owned by institutional investors and hedge funds.

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.