Zions Bancorporation, National Association (NASDAQ:ZION) PT Lowered to $49.00 at Jefferies Financial Group

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective trimmed by Jefferies Financial Group from $51.00 to $49.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

ZION has been the subject of several other research reports. Royal Bank of Canada increased their price target on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a sector perform rating in a research note on Tuesday, July 23rd. Wedbush raised their target price on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Stephens raised their target price on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their target price on Zions Bancorporation, National Association from $42.00 to $54.00 and gave the company an underweight rating in a research note on Monday, August 5th. Finally, StockNews.com raised Zions Bancorporation, National Association from a sell rating to a hold rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of Hold and an average price target of $48.83.

Zions Bancorporation, National Association Stock Performance

ZION stock opened at $46.49 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11. The firm has a market cap of $6.87 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.72 and a beta of 1.09. Zions Bancorporation, National Association has a 12-month low of $28.90 and a 12-month high of $53.32. The stock’s 50 day simple moving average is $47.78 and its 200 day simple moving average is $43.94.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $761.61 million. During the same period last year, the company earned $1.11 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued 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 3.53%. Zions Bancorporation, National Association’s dividend payout ratio is 41.21%.

Insider Buying and Selling

In related news, VP Bruce K. Alexander sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the sale, the vice president now directly owns 17,857 shares in the company, valued at approximately $925,528.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 in the company, valued at $1,275,859.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZION. Victory Capital Management Inc. bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $1,108,000. National Bank of Canada FI grew its position in Zions Bancorporation, National Association by 9.3% in the fourth quarter. National Bank of Canada FI now owns 34,489 shares of the bank’s stock valued at $1,522,000 after acquiring an additional 2,923 shares during the period. Private Advisor Group LLC bought a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $359,000. Principal Securities Inc. bought a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $126,000. Finally, Teacher Retirement System of Texas grew its position in Zions Bancorporation, National Association by 91.1% in the fourth quarter. Teacher Retirement System of Texas now owns 31,703 shares of the bank’s stock valued at $1,391,000 after acquiring an additional 15,114 shares during the period. 76.84% of the stock is owned by institutional investors.

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.