Robert W. Baird Cuts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $55.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective cut by Robert W. Baird from $58.00 to $55.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other research firms have also issued reports on ZION. Wells Fargo & Company decreased their target price on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Royal Bank of Canada lifted their price objective on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 22nd. Stephens cut their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley lowered their price target on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus price target of $59.00.

Zions Bancorporation, National Association Stock Up 2.1 %

Shares of NASDAQ ZION opened at $45.25 on Tuesday. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week high of $63.22. The business’s 50 day moving average is $48.26 and its two-hundred day moving average is $53.28. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the prior year, the company earned $0.96 EPS. Research analysts predict 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 authorized a share buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,029 shares of company stock worth $1,855,321 over the last three months. 2.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

A number of large investors have recently made changes to their positions in ZION. Virtu Financial LLC purchased a new stake in shares of Zions Bancorporation, National Association during the third quarter worth about $583,000. Fisher Asset Management LLC purchased a new stake in Zions Bancorporation, National Association in the 4th quarter worth approximately $389,000. Strategic Financial Concepts LLC purchased a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth $2,538,000. Polymer Capital Management US LLC purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at $229,000. Finally, SG Americas Securities LLC lifted its position in Zions Bancorporation, National Association by 244.8% during the fourth quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock worth $1,541,000 after buying an additional 20,167 shares during the period. Institutional investors and hedge funds 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.