Zions Bancorporation, N.A. (NASDAQ:ZION) Receives Consensus Recommendation of “Hold” from Analysts

Zions Bancorporation, N.A. (NASDAQ:ZION) has been assigned an average recommendation of “Hold” from the twenty brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $65.5294.

A number of equities research analysts have recently issued reports on ZION shares. JPMorgan Chase & Co. upped their price target on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Piper Sandler dropped their price target on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Morgan Stanley dropped their price target on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Robert W. Baird upped their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Citigroup upped their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by company insiders.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors have recently made changes to their positions in ZION. Royal Bank of Canada raised its position in Zions Bancorporation, N.A. by 76.3% in the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after purchasing an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after purchasing an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after purchasing an additional 2,659 shares during the period. Focus Partners Wealth raised its position in Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 10,283 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock valued at $94,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Trading Down 0.1%

Shares of Zions Bancorporation, N.A. stock opened at $62.24 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $60.27 and its 200 day moving average price is $58.74. Zions Bancorporation, N.A. has a twelve month low of $46.09 and a twelve month high of $66.18. The firm has a market capitalization of $9.15 billion, a PE ratio of 9.68, a P/E/G ratio of 2.06 and a beta of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period last year, the company posted $1.13 EPS. On average, sell-side analysts predict that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. announced that its board has initiated a share repurchase plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.