Evercore ISI Cuts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $56.00

by · The Cerbat Gem

Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) had its price target cut by Evercore ISI from $58.00 to $56.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

Several other analysts have also recently weighed in on the company. Wolfe Research raised Zions Bancorporation, National Association to a hold rating in a report on Wednesday, September 18th. The Goldman Sachs Group boosted their price objective on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Wedbush increased their target price on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Stephens upped their price objective on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Finally, Compass Point raised their price objective on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $49.17.

View Our Latest Stock Report on ZION

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $47.86 on Wednesday. The stock has a 50-day simple moving average of $47.31 and a 200 day simple moving average of $44.58. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a 12-month low of $28.90 and a 12-month high of $53.32. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 2.76 and a beta of 1.09.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. During the same period in the previous year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts anticipate that Zions Bancorporation, National Association will post 4.53 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.43%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares in the company, valued at $1,275,859.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Scott J. Mclean sold 60,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the sale, the president now directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock worth $3,476,298 in the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank boosted its stake in Zions Bancorporation, National Association by 331.1% in the first quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after buying an additional 91,289 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Zions Bancorporation, National Association in the first quarter worth about $1,959,000. Retirement Systems of Alabama boosted its stake in shares of Zions Bancorporation, National Association by 469.8% in the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after purchasing an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 345.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after purchasing an additional 68,445 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Zions Bancorporation, National Association by 71.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock worth $5,136,000 after purchasing an additional 49,213 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

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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.

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