Zions Bancorporation, National Association (NASDAQ:ZION) Given New $59.00 Price Target at Morgan Stanley

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) had its price target trimmed by Morgan Stanley from $65.00 to $59.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

ZION has been the topic of several other reports. Wolfe Research lowered shares of Zions Bancorporation, National Association from an outperform rating to a market perform rating in a research report on Wednesday, November 2nd. UBS Group raised their target price on shares of Zions Bancorporation, National Association to $65.00 in a research report on Wednesday, November 16th. Wells Fargo & Company decreased their target price on shares of Zions Bancorporation, National Association from $66.00 to $55.00 and set an equal weight rating on the stock in a research report on Tuesday, October 25th. DA Davidson upgraded shares of Zions Bancorporation, National Association from a neutral rating to a buy rating and set a $56.00 target price on the stock in a research report on Tuesday, December 20th. They noted that the move was a valuation call. Finally, Wedbush decreased their target price on shares of Zions Bancorporation, National Association from $61.00 to $50.00 and set a neutral rating on the stock in a research report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $60.08.

Zions Bancorporation, National Association Stock Down 1.7 %

ZION stock opened at $51.77 on Tuesday. The company’s 50 day simple moving average is $49.65 and its 200-day simple moving average is $52.20. The firm has a market capitalization of $7.75 billion, a PE ratio of 9.77, a P/E/G ratio of 2.69 and a beta of 1.15. Zions Bancorporation, National Association has a 12 month low of $45.21 and a 12 month high of $75.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.72.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its quarterly earnings results on Monday, January 23rd. The bank reported $1.84 EPS for the quarter, beating the consensus estimate of $1.66 by $0.18. The business had revenue of $988.00 million for the quarter, compared to analyst estimates of $873.05 million. Zions Bancorporation, National Association had a net margin of 26.92% and a return on equity of 14.98%. During the same period in the prior year, the business earned $1.34 earnings per share. Equities analysts expect that Zions Bancorporation, National Association will post 5.6 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its board has initiated a stock buyback program on Friday, October 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 0.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 10th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.17%. The ex-dividend date was Wednesday, November 9th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 30.94%.

Insider Buying and Selling

In related news, VP Thomas E. Laursen sold 880 shares of Zions Bancorporation, National Association stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $51.79, for a total transaction of $45,575.20. Following the sale, the vice president now owns 27,007 shares of the company’s stock, valued at approximately $1,398,692.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 2,378 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the completion of the transaction, the vice president now directly owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas E. Laursen sold 880 shares of the firm’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $51.79, for a total transaction of $45,575.20. Following the transaction, the vice president now directly owns 27,007 shares of the company’s stock, valued at $1,398,692.53. The disclosure for this sale can be found here. Insiders have sold 18,032 shares of company stock valued at $905,391 in the last quarter. Company insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Empirical Finance LLC grew its holdings in Zions Bancorporation, National Association by 7.6% during the 4th quarter. Empirical Finance LLC now owns 4,240 shares of the bank’s stock worth $208,000 after acquiring an additional 301 shares in the last quarter. National Bank of Canada FI grew its holdings in Zions Bancorporation, National Association by 716.5% during the 4th quarter. National Bank of Canada FI now owns 4,360 shares of the bank’s stock worth $214,000 after acquiring an additional 3,826 shares in the last quarter. Xponance Inc. grew its holdings in Zions Bancorporation, National Association by 13.9% during the 4th quarter. Xponance Inc. now owns 35,877 shares of the bank’s stock worth $1,764,000 after acquiring an additional 4,385 shares in the last quarter. Veriti Management LLC grew its holdings in Zions Bancorporation, National Association by 4.8% during the 4th quarter. Veriti Management LLC now owns 4,530 shares of the bank’s stock worth $223,000 after acquiring an additional 209 shares in the last quarter. Finally, Western Financial Corp CA acquired a new position in Zions Bancorporation, National Association during the 4th quarter worth $211,000. 81.86% of the stock is owned by institutional investors and hedge funds.

About Zions Bancorporation, National Association

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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.

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