Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Has Consensus Target Price of $73.44

Zions Bancorporation, N.A. (NASDAQ:ZION) has received an average rating of “Hold” from the eighteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.44.

A number of brokerages have issued reports on ZION. DA Davidson boosted their price objective on shares of Zions Bancorporation, N.A. from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. UBS Group initiated coverage on shares of Zions Bancorporation, N.A. in a report on Monday, September 14th. They issued a “buy” rating and a $78.00 price objective for the company. Piper Sandler raised their target price on shares of Zions Bancorporation, N.A. from $68.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Citigroup cut their target price on shares of Zions Bancorporation, N.A. from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the company an “underweight” rating in a research note on Tuesday, October 20th.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Christopher Kyriakakis sold 2,703 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $67.05, for a total transaction of $181,236.15. Following the transaction, the executive vice president owned 36,700 shares in the company, valued at approximately $2,460,735. This represents a 6.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Zions Bancorporation, N.A. in the second quarter worth $982,244,000. Dimensional Fund Advisors LP lifted its position in Zions Bancorporation, N.A. by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after buying an additional 56,438 shares during the period. First Trust Advisors LP lifted its position in Zions Bancorporation, N.A. by 28.5% during the first quarter. First Trust Advisors LP now owns 1,917,826 shares of the bank’s stock valued at $110,505,000 after buying an additional 425,325 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at $87,961,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Zions Bancorporation, N.A. by 50.1% during the 1st quarter. Quantinno Capital Management LP now owns 1,242,578 shares of the bank’s stock valued at $71,597,000 after buying an additional 414,902 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Trading Up 0.6%

Shares of ZION traded up $0.39 during mid-day trading on Friday, hitting $66.34. 1,240,392 shares of the company’s stock traded hands, compared to its average volume of 1,721,607. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. Zions Bancorporation, N.A. has a 1 year low of $48.50 and a 1 year high of $73.34. The firm has a market capitalization of $9.62 billion, a P/E ratio of 8.14, a PEG ratio of 1.09 and a beta of 0.85. The business’s 50-day moving average price is $64.99 and its 200-day moving average price is $64.12.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced 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 the consensus estimate of $889.52 million. During the same quarter in the prior year, the company earned $1.48 earnings per share. As a group, sell-side analysts forecast that Zions Bancorporation, N.A. will post 6.73 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock buyback program on Thursday, July 30th that authorizes the company to repurchase $75 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.7% of its shares through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 12th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 23.56%.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a national bank providing commercial and retail banking services to individuals, businesses, and institutions. Its offerings include business and consumer lending, deposit accounts, treasury management, and related banking services. The bank serves customers across 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through regional banking brands, including Zions Bank, Amegy Bank, California Bank & Trust, and National Bank of Arizona.