Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $65.44 and traded as low as $64.74. Zions Bancorporation, N.A. shares last traded at $65.41, with a volume of 1,685,431 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the stock an “underweight” rating in a report on Tuesday, October 20th. TD Cowen reaffirmed a “hold” rating and issued a $69.00 target price on shares of Zions Bancorporation, N.A. in a research report on Tuesday, October 20th. Piper Sandler lifted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, Morgan Stanley cut their target price on shares of Zions Bancorporation, N.A. from $78.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 20th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.44.

Zions Bancorporation, N.A. Price Performance

The stock has a market cap of $9.55 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. The firm has a 50-day moving average price of $65.44 and a 200-day moving average price of $63.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.86.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, October 19th. The bank reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.77% and a net margin of 24.81%. The company had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $889.52 million. During the same quarter last year, the business posted $1.48 EPS. On average, analysts forecast that Zions Bancorporation, N.A. will post 6.67 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has initiated a share repurchase program on Thursday, July 30th that permits the company to repurchase $75 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 0.7% of its shares through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Scott Law sold 4,608 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Scott Mclean sold 33,285 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the transaction, the president directly owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 87,893 shares of company stock valued at $6,221,591. 1.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in Zions Bancorporation, N.A. during the second quarter worth about $87,961,000. Deutsche Bank AG purchased a new stake in Zions Bancorporation, N.A. in the second quarter worth about $71,767,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Zions Bancorporation, N.A. in the second quarter worth about $4,933,000. Bank of America Corp DE bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $40,776,000. Finally, Amundi increased its stake in shares of Zions Bancorporation, N.A. by 415.2% during the second quarter. Amundi now owns 189,013 shares of the bank’s stock valued at $13,078,000 after purchasing an additional 152,328 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and related financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, small-business banking, consumer loans, residential mortgages, deposit accounts, treasury management, investment services, and private banking.