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

Zions Bancorporation, N.A. (NASDAQ:ZION) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $66.3529.

A number of research analysts have recently commented on the company. Brean Capital assumed coverage on Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. Stephens assumed coverage on Zions Bancorporation, N.A. in a research report on Monday. They set an “overweight” rating and a $79.00 target price on the stock. Morgan Stanley lowered their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. JPMorgan Chase & Co. raised their price target on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Finally, Citigroup raised their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd.

Zions Bancorporation, N.A. Stock Down 0.9%

NASDAQ ZION opened at $66.15 on Thursday. The stock’s 50-day moving average price is $62.46 and its 200-day moving average price is $59.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $67.99. The company has a market capitalization of $9.73 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $859.00 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $1.13 EPS. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.

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

Zions Bancorporation, N.A. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 27.99%.

Insider Buying and Selling

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently modified their holdings of ZION. NewEdge Advisors LLC boosted its holdings in Zions Bancorporation, N.A. by 4.6% in the first quarter. NewEdge Advisors LLC now owns 8,126 shares of the bank’s stock valued at $468,000 after purchasing an additional 358 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Zions Bancorporation, N.A. by 30.9% in the first quarter. Bank of America Corp DE now owns 538,436 shares of the bank’s stock valued at $31,025,000 after purchasing an additional 127,229 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Zions Bancorporation, N.A. by 74.8% in the first quarter. Edgestream Partners L.P. now owns 199,682 shares of the bank’s stock valued at $11,506,000 after purchasing an additional 85,458 shares during the period. Kentucky Retirement Systems acquired a new stake in Zions Bancorporation, N.A. in the first quarter valued at about $878,000. Finally, Amundi grew its stake in shares of Zions Bancorporation, N.A. by 1.6% during the 1st quarter. Amundi now owns 36,685 shares of the bank’s stock worth $2,114,000 after purchasing an additional 568 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Company Profile

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.