Shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) dropped 4.4% during trading on Friday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $29.70 and last traded at $29.76. Approximately 1,467,473 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 3,904,423 shares. The stock had previously closed at $31.12.
Other equities research analysts also recently issued research reports about the company. Robert W. Baird dropped their target price on Zions Bancorporation, National Association from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday. Truist Financial dropped their price objective on Zions Bancorporation, National Association from $59.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, March 23rd. Morgan Stanley dropped their price objective on Zions Bancorporation, National Association from $59.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Royal Bank of Canada decreased their target price on Zions Bancorporation, National Association from $47.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, TheStreet cut Zions Bancorporation, National Association from a “b” rating to a “c+” rating in a research note on Thursday, March 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and an average price target of $46.44.
Insider Activity at Zions Bancorporation, National Association
In related news, CEO Alan M. Forney sold 4,307 shares of the stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $53.02, for a total transaction of $228,357.14. Following the completion of the transaction, the chief executive officer now directly owns 18,014 shares of the company’s stock, valued at $955,102.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Terry Alan Shirey sold 2,248 shares of the stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $52.84, for a total transaction of $118,784.32. Following the completion of the transaction, the executive vice president now directly owns 19,221 shares of the company’s stock, valued at $1,015,637.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan M. Forney sold 4,307 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $53.02, for a total value of $228,357.14. Following the completion of the sale, the chief executive officer now owns 18,014 shares in the company, valued at approximately $955,102.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,932 shares of company stock valued at $693,458. Insiders own 1.81% of the company’s stock.
Hedge Funds Weigh In On Zions Bancorporation, National Association
Large investors have recently made changes to their positions in the company. Private Trust Co. NA bought a new position in shares of Zions Bancorporation, National Association during the second quarter worth approximately $29,000. Fiduciary Alliance LLC bought a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth approximately $36,000. Ronald Blue Trust Inc. increased its stake in shares of Zions Bancorporation, National Association by 58.7% during the fourth quarter. Ronald Blue Trust Inc. now owns 800 shares of the bank’s stock worth $41,000 after purchasing an additional 296 shares during the period. Allworth Financial LP increased its stake in shares of Zions Bancorporation, National Association by 42.3% during the fourth quarter. Allworth Financial LP now owns 958 shares of the bank’s stock worth $47,000 after purchasing an additional 285 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Zions Bancorporation, National Association by 51.5% during the first quarter. Parkside Financial Bank & Trust now owns 1,251 shares of the bank’s stock worth $83,000 after purchasing an additional 425 shares during the period. Institutional investors own 81.86% of the company’s stock.
Zions Bancorporation, National Association Stock Down 4.9 %
The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 5.31, a P/E/G ratio of 5.24 and a beta of 1.10. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50-day moving average of $38.19 and a 200-day moving average of $46.26.
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last issued its quarterly earnings results on Wednesday, April 19th. The bank reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.18). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $844.33 million. Zions Bancorporation, National Association had a return on equity of 18.36% and a net margin of 27.18%. During the same period in the prior year, the company earned $1.27 EPS. Sell-side analysts predict that Zions Bancorporation, National Association will post 5.76 EPS for the current fiscal year.
Zions Bancorporation, National Association Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 16th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Wednesday, February 15th. Zions Bancorporation, National Association’s dividend payout ratio is currently 27.99%.
Zions Bancorporation, National Association Company Profile
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.