Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price decreased by Wells Fargo & Company from $52.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

ZION has been the topic of a number of other reports. Wedbush upped their price target on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Argus cut shares of Zions Bancorporation, National Association from a buy rating to a hold rating in a research note on Thursday, July 25th. Morgan Stanley increased their price target on shares of Zions Bancorporation, National Association from $42.00 to $54.00 and gave the stock an underweight rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Zions Bancorporation, National Association from a sell rating to a hold rating in a report on Tuesday, July 30th. Finally, Stephens increased their target price on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $48.61.

Zions Bancorporation, National Association Stock Up 4.7 %

ZION stock opened at $49.91 on Wednesday. The firm’s 50-day moving average is $46.27 and its two-hundred day moving average is $43.17. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.18. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. On average, analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.29%. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the transaction, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President Scott J. Mclean sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares in the company, valued at $3,850,243.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,073 shares of company stock valued at $3,476,298. 2.22% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its holdings in Zions Bancorporation, National Association by 2.0% during the second quarter. Creative Planning now owns 20,062 shares of the bank’s stock valued at $870,000 after purchasing an additional 386 shares during the last quarter. Algert Global LLC boosted its holdings in Zions Bancorporation, National Association by 19.4% in the 2nd quarter. Algert Global LLC now owns 91,784 shares of the bank’s stock worth $3,981,000 after buying an additional 14,914 shares during the period. AQR Capital Management LLC grew its stake in Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after buying an additional 433,513 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after acquiring an additional 296 shares in the last quarter. Finally, Alpha DNA Investment Management LLC bought a new position in shares of Zions Bancorporation, National Association in the second quarter worth $529,000. 76.84% of the stock is owned by hedge funds and other 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.