Zions Bancorporation, National Association (NASDAQ:ZION) Upgraded to “Hold” by Wolfe Research

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by equities researchers at Wolfe Research to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

Several other research firms have also commented on ZION. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wedbush raised their target price on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Robert W. Baird upped their price target on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company dropped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group cut their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.72.

Zions Bancorporation, National Association Trading Down 0.9 %

Shares of Zions Bancorporation, National Association stock opened at $47.99 on Wednesday. Zions Bancorporation, National Association has a fifty-two week low of $28.90 and a fifty-two week high of $53.32. The business’s fifty day moving average is $48.00 and its two-hundred day moving average is $44.24. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. The firm has a market cap of $7.09 billion, a PE ratio of 12.06, a P/E/G ratio of 2.83 and a beta of 1.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 earnings per share. Analysts anticipate that Zions Bancorporation, National Association will post 4.52 earnings per share for the current year.

Insider Activity

In other news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the sale, the executive vice president now directly owns 24,640 shares in the company, valued at approximately $1,275,859.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,073 shares of company stock worth $3,476,298. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Dimensional Fund Advisors LP lifted its stake in shares of Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after acquiring an additional 929,251 shares during the period. Fiduciary Management Inc. WI boosted its stake in shares of Zions Bancorporation, National Association by 4.0% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,247,805 shares of the bank’s stock valued at $98,611,000 after purchasing an additional 86,165 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Zions Bancorporation, National Association by 1.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,146,411 shares of the bank’s stock worth $93,089,000 after buying an additional 22,123 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Zions Bancorporation, National Association by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock worth $74,784,000 after buying an additional 5,609 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth approximately $67,694,000. Institutional investors and hedge funds 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.