Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Lowered to $58.00 at Wells Fargo & Company

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective decreased by equities research analysts at Wells Fargo & Company from $62.00 to $58.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 17.47% from the stock’s current price.

ZION has been the topic of a number of other research reports. UBS Group started coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price on the stock. Barclays raised their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. Royal Bank of Canada increased their price target on shares of 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. Compass Point raised their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.94.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION traded down $0.88 during trading on Friday, reaching $49.38. The company had a trading volume of 58,853 shares, compared to its average volume of 1,483,047. The company has a fifty day moving average of $53.83 and a two-hundred day moving average of $53.62. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7.29 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22.

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

Zions Bancorporation, National Association announced that its board has approved a share repurchase program on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the 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 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 have sold 32,713 shares of company stock valued at $1,839,686 over the last 90 days. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Zions Bancorporation, National Association by 27.7% during the third quarter. Cerity Partners LLC now owns 30,787 shares of the bank’s stock valued at $1,454,000 after purchasing an additional 6,683 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter valued at about $477,000. Dynamic Technology Lab Private Ltd purchased a new position in Zions Bancorporation, National Association in the third quarter worth about $658,000. Bank of Montreal Can increased its stake in Zions Bancorporation, National Association by 35.6% during the third quarter. Bank of Montreal Can now owns 58,427 shares of the bank’s stock worth $2,715,000 after acquiring an additional 15,354 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in Zions Bancorporation, National Association by 5.6% during the third quarter. D.A. Davidson & CO. now owns 18,179 shares of the bank’s stock valued at $858,000 after purchasing an additional 965 shares during the period. 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.