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

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price cut by investment analysts at Wells Fargo & Company from $62.00 to $58.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 28.46% from the stock’s previous close.

Other analysts have also issued research reports about the company. Compass Point upped their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stephens reiterated an “equal weight” rating and issued a $64.00 target price on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. UBS Group initiated coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Barclays raised their price objective on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.94.

Zions Bancorporation, National Association Trading Down 10.5 %

ZION stock traded down $5.29 during trading on Friday, hitting $45.15. The company had a trading volume of 1,213,280 shares, compared to its average volume of 1,583,531. Zions Bancorporation, National Association has a 52-week low of $39.05 and a 52-week high of $63.22. The firm has a market capitalization of $6.66 billion, a P/E ratio of 9.12, a PEG ratio of 1.61 and a beta of 1.10. The company has a 50 day simple moving average of $53.15 and a 200-day simple moving average of $53.80. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. The business 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. As a group, research analysts forecast 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 authorized a share repurchase program on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the sale, the executive vice president now directly 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 a total of 33,029 shares of company stock valued at $1,855,321 in the last ninety days. 2.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Zions Bancorporation, National Association by 6.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,935 shares of the bank’s stock valued at $2,383,000 after purchasing an additional 2,712 shares during the last quarter. Fluent Financial LLC acquired a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $277,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Zions Bancorporation, National Association in the fourth quarter worth approximately $4,603,000. Michels Family Financial LLC acquired a new stake in Zions Bancorporation, National Association during the fourth quarter worth $651,000. Finally, Vise Technologies Inc. purchased a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $311,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.