Stephens Reiterates Equal Weight Rating for Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION)‘s stock had its “equal weight” rating reissued by investment analysts at Stephens in a research note issued on Wednesday,Benzinga reports. They currently have a $64.00 target price on the bank’s stock. Stephens’ price objective points to a potential upside of 26.77% from the company’s previous close.

Several other brokerages have also recently commented on ZION. Royal Bank of Canada increased their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their target price on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, January 7th. Finally, DA Davidson lifted their price objective on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Stock Down 1.1 %

Shares of ZION stock traded down $0.55 during trading hours on Wednesday, reaching $50.49. The company had a trading volume of 296,591 shares, compared to its average volume of 1,282,227. The company has a market capitalization of $7.47 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The stock’s fifty day simple moving average is $55.80 and its 200 day simple moving average is $53.55.

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

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This represents a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm’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. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock valued at $1,839,686 in the last three months. 2.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Zions Bancorporation, National Association by 51.1% during 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 boosted its stake in Zions Bancorporation, National Association by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Zions Bancorporation, National Association by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after acquiring an additional 493 shares during the period. Millstone Evans Group LLC bought a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $62,000. Finally, Natixis acquired a new stake in Zions Bancorporation, National Association in the 4th quarter valued at about $102,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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.