Zions Bancorporation, National Association (NASDAQ:ZION) Downgraded to “Hold” at Argus

Argus lowered shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a buy rating to a hold rating in a report released on Thursday morning, MarketBeat reports.

A number of other analysts have also issued reports on ZION. Evercore ISI raised their price target on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Morgan Stanley raised their price target on Zions Bancorporation, National Association from $39.00 to $42.00 and gave the stock an underweight rating in a research note on Tuesday. Wedbush raised their price objective on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a neutral rating in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock a market perform rating in a report on Tuesday. Finally, Jefferies Financial Group cut their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a hold rating on the stock in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, National Association has an average rating of Hold and an average target price of $48.06.

Zions Bancorporation, National Association Stock Up 1.6 %

ZION opened at $51.80 on Thursday. The business’s fifty day simple moving average is $44.04 and its 200 day simple moving average is $42.41. The company has a quick ratio of 0.82, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32. The firm has a market cap of $7.65 billion, a P/E ratio of 13.02, a PEG ratio of 5.11 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping 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 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 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Zions Bancorporation, National Association will post 4.43 EPS for the current fiscal year.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the transaction, the executive vice president now owns 22,238 shares in the company, valued at approximately $970,911.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total transaction of $65,520.00. Following the completion of the transaction, the chief executive officer now owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca K. Robinson sold 5,291 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the transaction, the executive vice president now owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,296 shares of company stock worth $319,192. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Zions Bancorporation, National Association by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock valued at $74,784,000 after acquiring an additional 5,609 shares in the last quarter. New Millennium Group LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at $55,000. Clear Creek Financial Management LLC raised its stake in shares of Zions Bancorporation, National Association by 2.7% in the 2nd quarter. Clear Creek Financial Management LLC now owns 14,500 shares of the bank’s stock worth $629,000 after buying an additional 380 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Zions Bancorporation, National Association in the 2nd quarter worth $57,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association in the 2nd quarter worth $198,000. Institutional investors and hedge funds 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.