Zions Bancorporation, National Association (NASDAQ:ZION) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a hold rating to a sell rating in a report released on Wednesday morning.

Other equities analysts have also recently issued reports about the stock. Wedbush dropped their target price on shares of Zions Bancorporation, National Association from $48.00 to $46.00 and set a neutral rating for the company in a research report on Tuesday, January 23rd. Truist Financial reiterated a hold rating and set a $46.00 price objective on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Robert W. Baird lowered their price objective on shares of Zions Bancorporation, National Association from $50.00 to $48.00 and set a neutral rating for the company in a research report on Tuesday, January 23rd. Stephens upped their price objective on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the stock an equal weight rating in a research report on Tuesday, January 23rd. Finally, Jefferies Financial Group lowered their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a hold rating for the company in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of Hold and a consensus price target of $43.33.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $43.09 on Wednesday. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 4.89 and a beta of 1.13. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day simple moving average of $42.29 and a 200 day simple moving average of $40.90. Zions Bancorporation, National Association has a 52 week low of $26.35 and a 52 week high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Friday, April 26th. The bank reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same period in the previous year, the firm posted $1.33 EPS. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 4.37 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.64 dividend on an annualized basis and a yield of 3.81%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at approximately $970,911.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the sale, the chief executive officer now directly owns 22,181 shares in the company, valued at $968,866.08. The disclosure for this sale can be found here. Insiders sold 7,296 shares of company stock worth $319,192 in the last three months. 2.22% of the stock is owned by insiders.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors have recently bought and sold shares of ZION. Daiwa Securities Group Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 15.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,497 shares of the bank’s stock valued at $122,000 after acquiring an additional 469 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Zions Bancorporation, National Association by 19.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 63,667 shares of the bank’s stock worth $2,221,000 after purchasing an additional 10,582 shares during the period. NBC Securities Inc. bought a new position in shares of Zions Bancorporation, National Association in the 3rd quarter worth approximately $491,000. Ieq Capital LLC lifted its stake in shares of Zions Bancorporation, National Association by 74.7% in the 3rd quarter. Ieq Capital LLC now owns 15,124 shares of the bank’s stock worth $528,000 after purchasing an additional 6,466 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Zions Bancorporation, National Association by 52.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 466,483 shares of the bank’s stock worth $16,276,000 after purchasing an additional 161,119 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.