Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $58.00

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) had its price target lowered by equities researchers at Wolfe Research from $72.00 to $58.00 in a research note issued to investors on Thursday, The Fly reports. Wolfe Research’s price objective would indicate a potential upside of 5.53% from the company’s current price.

A number of other analysts have also commented on ZION. Jefferies Financial Group raised shares of Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $87.00 in a research report on Monday, February 14th. Zacks Investment Research lowered shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a research report on Monday, March 21st. Robert W. Baird raised shares of Zions Bancorporation, National Association from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $49.00 to $60.00 in a research report on Monday, April 18th. Barclays boosted their price objective on shares of Zions Bancorporation, National Association from $73.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 26th. Finally, StockNews.com started coverage on shares of Zions Bancorporation, National Association in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $69.88.

Zions Bancorporation, National Association stock opened at $54.96 on Thursday. The stock has a market capitalization of $8.32 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 7.94 and a beta of 1.29. Zions Bancorporation, National Association has a twelve month low of $47.06 and a twelve month high of $75.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $60.86 and a 200-day moving average of $64.58.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its quarterly earnings results on Monday, April 25th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.12. The company had revenue of $694.00 million during the quarter, compared to analysts’ expectations of $700.11 million. Zions Bancorporation, National Association had a net margin of 34.40% and a return on equity of 14.53%. During the same quarter in the prior year, the company earned $1.90 earnings per share. Equities analysts anticipate that Zions Bancorporation, National Association will post 5.56 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has approved a stock repurchase program on Friday, January 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other Zions Bancorporation, National Association news, SVP James R. Abbott purchased 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, May 2nd. The stock was acquired at an average price of $57.03 per share, with a total value of $570,300.00. Following the transaction, the senior vice president now owns 77,918 shares in the company, valued at approximately $4,443,663.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott A. Law sold 713 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $54.16, for a total transaction of $38,616.08. Following the completion of the sale, the executive vice president now directly owns 19,424 shares of the company’s stock, valued at approximately $1,052,003.84. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Zions Bancorporation, National Association in the 1st quarter valued at $200,000. Neuberger Berman Group LLC boosted its holdings in Zions Bancorporation, National Association by 23.6% during the 1st quarter. Neuberger Berman Group LLC now owns 876,806 shares of the bank’s stock worth $57,533,000 after acquiring an additional 167,513 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Zions Bancorporation, National Association by 1.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,495,689 shares of the bank’s stock worth $98,057,000 after acquiring an additional 20,142 shares during the last quarter. Toroso Investments LLC purchased a new position in Zions Bancorporation, National Association during the 1st quarter worth $230,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Zions Bancorporation, National Association by 33.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 133,578 shares of the bank’s stock worth $8,757,000 after acquiring an additional 33,326 shares during the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.

About Zions Bancorporation, National Association (Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

Further Reading

The Fly logo

Analyst Recommendations for Zions Bancorporation, National Association (NASDAQ:ZION)

Want More Great Investing Ideas?

Receive News & Ratings for Zions Bancorporation National Association Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation National Association and related companies with MarketBeat.com's FREE daily email newsletter.