Zions Bancorporation, National Association (NASDAQ:ZION) Cut to “Market Perform” at Raymond James

Raymond James cut shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) from a strong-buy rating to a market perform rating in a research report report published on Tuesday morning, Marketbeat.com reports.

Several other equities analysts also recently commented on the stock. StockNews.com initiated coverage on shares of Zions Bancorporation, National Association in a report on Thursday, March 31st. They set a hold rating on the stock. DA Davidson reissued a neutral rating on shares of Zions Bancorporation, National Association in a research report on Tuesday, January 25th. Compass Point raised shares of Zions Bancorporation, National Association from a neutral rating to a buy rating and upped their price target for the stock from $70.00 to $80.00 in a research report on Friday, January 14th. B. Riley lowered their price target on shares of Zions Bancorporation, National Association from $77.00 to $70.00 in a research report on Tuesday, April 12th. Finally, The Goldman Sachs Group upped their price target on shares of Zions Bancorporation, National Association from $70.00 to $78.00 and gave the stock a neutral rating in a research report on Monday, April 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $71.47.

Zions Bancorporation, National Association stock opened at $57.99 on Tuesday. The company has a market cap of $8.81 billion, a PE ratio of 8.57 and a beta of 1.27. Zions Bancorporation, National Association has a twelve month low of $47.06 and a twelve month high of $75.44. The company’s 50-day moving average price is $65.50 and its 200-day moving average price is $65.79. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.27.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last issued its quarterly earnings results on Monday, April 25th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.15 by $0.12. Zions Bancorporation, National Association had a net margin of 38.01% and a return on equity of 15.40%. During the same quarter in the prior year, the business posted $1.90 EPS. As a group, sell-side analysts expect that Zions Bancorporation, National Association will post 5.35 earnings per share for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share buyback plan on Friday, January 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, VP A Scott Anderson sold 30,703 shares of the stock in a transaction on Monday, February 14th. The shares were sold at an average price of $71.85, for a total value of $2,206,010.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rebecca K. Robinson sold 15,120 shares of the stock in a transaction on Thursday, February 3rd. The stock was sold at an average price of $69.52, for a total transaction of $1,051,142.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,899 shares of company stock worth $3,623,797 in the last 90 days. 1.81% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in ZION. Cascade Investment Advisors Inc. grew its position in Zions Bancorporation, National Association by 0.5% during the fourth quarter. Cascade Investment Advisors Inc. now owns 28,560 shares of the bank’s stock valued at $1,804,000 after buying an additional 140 shares during the period. Daiwa Securities Group Inc. grew its position in Zions Bancorporation, National Association by 14.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,454 shares of the bank’s stock valued at $92,000 after buying an additional 185 shares during the period. Eagle Bay Advisors LLC grew its position in Zions Bancorporation, National Association by 28.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,000 shares of the bank’s stock valued at $63,000 after buying an additional 220 shares during the period. Horizon Investments LLC grew its position in Zions Bancorporation, National Association by 5.5% during the fourth quarter. Horizon Investments LLC now owns 5,079 shares of the bank’s stock valued at $321,000 after buying an additional 267 shares during the period. Finally, First Republic Investment Management Inc. grew its position in Zions Bancorporation, National Association by 4.0% during the third quarter. First Republic Investment Management Inc. now owns 8,738 shares of the bank’s stock valued at $541,000 after buying an additional 336 shares during the period. Hedge funds and other institutional investors own 82.12% of the company’s stock.

About Zions Bancorporation, National Association (Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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