Zions Bancorporation, National Association (NASDAQ:ZION) Coverage Initiated at Hovde Group

Hovde Group started coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) in a research note published on Monday, The Fly reports. The brokerage issued an outperform rating and a $40.00 target price on the bank’s stock.

ZION has been the topic of several other reports. TheStreet cut shares of Zions Bancorporation, National Association from a b rating to a c+ rating in a research note on Thursday, March 23rd. Keefe, Bruyette & Woods cut their price objective on shares of Zions Bancorporation, National Association from $56.00 to $38.00 and set a market perform rating on the stock in a report on Thursday, April 6th. Royal Bank of Canada cut their price objective on shares of Zions Bancorporation, National Association from $47.00 to $40.00 and set a sector perform rating on the stock in a report on Thursday, April 20th. Argus cut their price objective on shares of Zions Bancorporation, National Association from $65.00 to $43.00 in a report on Monday, April 24th. Finally, Robert W. Baird cut their price objective on shares of Zions Bancorporation, National Association from $60.00 to $55.00 and set an outperform rating on the stock in a report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of Hold and an average target price of $46.00.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $28.32 on Monday. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 4.83, a PEG ratio of 5.60 and a beta of 1.10. Zions Bancorporation, National Association has a 52 week low of $18.26 and a 52 week high of $59.75. The company’s 50-day moving average price is $27.85 and its 200 day moving average price is $41.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.70.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last released its quarterly earnings results on Wednesday, April 19th. The bank reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.18). Zions Bancorporation, National Association had a return on equity of 19.48% and a net margin of 24.41%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $844.33 million. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, research analysts forecast that Zions Bancorporation, National Association will post 5.2 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend was Wednesday, May 17th. Zions Bancorporation, National Association’s payout ratio is 27.99%.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, Director Claire A. Huang bought 18,000 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of $20.02 per share, for a total transaction of $360,360.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $360,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zions Bancorporation, National Association news, Director Claire A. Huang purchased 18,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $20.02 per share, for a total transaction of $360,360.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $360,360. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rebecca K. Robinson purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $20.38 per share, for a total transaction of $203,800.00. Following the completion of the transaction, the executive vice president now owns 10,360 shares of the company’s stock, valued at approximately $211,136.80. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 105,000 shares of company stock worth $2,611,040. 1.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Zions Bancorporation, National Association by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,943,882 shares of the bank’s stock worth $1,014,347,000 after purchasing an additional 902,141 shares in the last quarter. BlackRock Inc. increased its stake in Zions Bancorporation, National Association by 5.4% in the 1st quarter. BlackRock Inc. now owns 10,413,388 shares of the bank’s stock worth $311,673,000 after purchasing an additional 533,520 shares in the last quarter. State Street Corp increased its stake in Zions Bancorporation, National Association by 14.9% in the 1st quarter. State Street Corp now owns 8,262,892 shares of the bank’s stock worth $247,308,000 after purchasing an additional 1,069,816 shares in the last quarter. LSV Asset Management increased its stake in Zions Bancorporation, National Association by 16.2% in the 4th quarter. LSV Asset Management now owns 4,719,478 shares of the bank’s stock worth $232,010,000 after purchasing an additional 656,756 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Zions Bancorporation, National Association by 3.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,413,092 shares of the bank’s stock worth $224,450,000 after purchasing an additional 162,464 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Zions Bancorporation, National Association Company Profile

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.