Stephens Reiterates Equal Weight Rating for Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION)‘s stock had its “equal weight” rating restated by research analysts at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $64.00 price target on the bank’s stock. Stephens’ target price suggests a potential upside of 27.16% from the stock’s current price.

A number of other brokerages have also recently weighed in on ZION. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. UBS Group started 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. Royal Bank of Canada raised their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, January 7th. One equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Stock Down 1.9 %

Zions Bancorporation, National Association stock opened at $50.33 on Wednesday. The company has a market capitalization of $7.44 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. The firm’s fifty day simple moving average is $55.72 and its 200-day simple moving average is $53.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the prior year, the company posted $0.78 EPS. The firm’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share buyback program on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 of the company’s stock, 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. Insiders sold 32,713 shares of company stock worth $1,839,686 in the last 90 days. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings 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 in the last quarter. Covestor Ltd increased its stake 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 valued at $46,000 after buying an additional 479 shares during the period. SRS Capital Advisors Inc. raised its position 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 worth $49,000 after acquiring an additional 493 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at $62,000. Finally, Natixis bought a new position in Zions Bancorporation, National Association in the fourth quarter valued at about $102,000. 76.84% of the stock is owned by institutional investors.

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.