Zions Bancorporation, National Association (NASDAQ:ZION) Earns “Equal Weight” Rating from Stephens

Stephens reiterated their equal weight rating on shares of Zions Bancorporation, National Association (NASDAQ:ZION) in a research report released on Wednesday morning,Benzinga reports. Stephens currently has a $64.00 target price on the bank’s stock.

A number of other analysts have also recently issued reports on ZION. Barclays lifted their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, January 7th. UBS Group initiated coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. Finally, DA Davidson boosted their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.71.

Zions Bancorporation, National Association Price Performance

ZION opened at $51.28 on Wednesday. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 1 year low of $39.05 and a 1 year high of $63.22. 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 fifty day moving average price of $55.80 and a 200 day moving average price of $53.55.

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

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a yield of 3.35%. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock worth $1,839,686 over the last three months. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares during the period. Covestor Ltd grew its stake in shares of Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after purchasing an additional 479 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $62,000. Finally, Natixis bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $102,000. 76.84% of the stock is currently 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.