Zions Bancorporation, National Association (NASDAQ:ZION) Stock Rating Lowered by Argus

Argus cut shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a buy rating to a hold rating in a research note released on Thursday, Marketbeat reports.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Zions Bancorporation, National Association from $39.00 to $42.00 and gave the company an underweight rating in a report on Tuesday, July 23rd. Compass Point upped their price target on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. UBS Group reduced their price target on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a neutral rating for the company in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a hold rating and a $47.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $48.06.

Zions Bancorporation, National Association Trading Up 0.9 %

Shares of NASDAQ ZION opened at $52.29 on Thursday. Zions Bancorporation, National Association has a 1-year low of $28.90 and a 1-year high of $53.32. The company has a market cap of $7.72 billion, a PE ratio of 13.14, a P/E/G ratio of 5.21 and a beta of 1.11. The company has a current ratio of 0.78, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $44.18 and a two-hundred day moving average of $42.45.

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, topping analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. During the same period in the previous year, the firm posted $1.11 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that Zions Bancorporation, National Association will post 4.53 earnings per share for the current fiscal year.

Insider Activity at Zions Bancorporation, National Association

In related news, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value of $65,520.00. Following the sale, the chief executive officer now directly owns 22,181 shares in the company, valued at approximately $968,866.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alan M. Forney sold 1,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total value of $65,520.00. Following the sale, the chief executive officer now owns 22,181 shares in the company, valued at $968,866.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,296 shares of company stock worth $319,192. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZION. Fidelis Capital Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association during the first quarter valued at approximately $27,000. Federated Hermes Inc. boosted its stake in shares of Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock valued at $28,000 after purchasing an additional 331 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $29,000. ORG Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association during the second quarter valued at approximately $33,000. Finally, Quarry LP purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.