Zions Bancorporation, National Association (NASDAQ:ZION) Receives Equal Weight Rating from Stephens

Zions Bancorporation, National Association (NASDAQ:ZION)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a report released on Wednesday,Benzinga reports. They presently have a $64.00 target price on the bank’s stock. Stephens’ target price would indicate a potential upside of 26.77% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. UBS Group assumed 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. Keefe, Bruyette & Woods boosted 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 Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, January 7th. Finally, DA Davidson lifted their price target on 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 equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.71.

Zions Bancorporation, National Association Price Performance

Shares of ZION traded down $0.55 during trading hours on Wednesday, hitting $50.49. 296,591 shares of the company were exchanged, compared to its average volume of 1,282,227. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $7.47 billion, a PE ratio of 10.22, a PEG ratio of 1.61 and a beta of 1.11. The firm has a fifty day simple moving average of $55.80 and a 200-day simple moving average of $53.55. Zions Bancorporation, National Association has a one year low of $39.05 and a one year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. As a group, sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

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

Insider Activity

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the company’s 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. This represents a 43.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, February 12th. The stock was 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 owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,713 shares of company stock valued at $1,839,686. Insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Zions Bancorporation, National Association by 51.1% in the 4th 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 raised its position in shares of Zions Bancorporation, National Association by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of Zions Bancorporation, National Association by 120.8% in 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 period. Millstone Evans Group LLC acquired a new stake in Zions Bancorporation, National Association during the fourth quarter worth about $62,000. Finally, Natixis bought a new position in Zions Bancorporation, National Association during the fourth quarter valued at about $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.