Wells Fargo & Company Issues Pessimistic Forecast for Zions Bancorporation, National Association (NASDAQ:ZION) Stock Price

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target cut by investment analysts at Wells Fargo & Company from $62.00 to $58.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.24% from the company’s current price.

ZION has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted 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 report on Wednesday, January 22nd. UBS Group initiated coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. Barclays boosted their price target 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. Royal Bank of Canada lifted their price objective on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 22nd. Finally, Compass Point upped their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.94.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $49.47 on Friday. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. 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 stock’s fifty day moving average price is $53.66 and its two-hundred day moving average price is $53.70. The firm has a market cap of $7.30 billion, a PE ratio of 9.99, a PEG ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787.70 million. During the same quarter last year, the business earned $0.78 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts forecast 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 approved a stock buyback program on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, 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 approximately $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,713 shares of company stock worth $1,839,686 in the last quarter. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Zions Bancorporation, National Association during the 4th quarter valued at about $73,542,000. Balyasny Asset Management L.P. increased its position in shares of Zions Bancorporation, National Association by 249.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock valued at $88,130,000 after acquiring an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $51,116,000. State Street Corp raised its holdings in Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after acquiring an additional 896,889 shares during the last quarter. Finally, Boston Partners bought a new position in Zions Bancorporation, National Association in the 4th quarter valued at approximately $33,961,000. Hedge funds and other 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.