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

Zions Bancorporation, N.A. (NASDAQ:ZION) has received a consensus recommendation of “Hold” from the twenty research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $65.5294.

Several analysts have weighed in on the company. Truist Financial upped their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Piper Sandler lowered their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. DA Davidson upped their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Brean Capital assumed coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Finally, Royal Bank Of Canada upped their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st.

Zions Bancorporation, N.A. Trading Up 0.5%

NASDAQ:ZION opened at $62.12 on Friday. The stock has a fifty day moving average price of $59.58 and a two-hundred day moving average price of $58.39. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 2.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation, N.A. has a 1 year low of $45.52 and a 1 year high of $66.18.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter in the prior year, the business posted $1.13 earnings per share. As a group, sell-side analysts anticipate that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

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

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits 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 believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction 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 SEC, which is accessible through the SEC website. Also, CEO Harris H. Simmons bought 4,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was purchased at an average cost of $59.03 per share, for a total transaction of $265,635.00. Following the acquisition, the chief executive officer directly owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. The trade was a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Large investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $32,000. Leonteq Securities AG acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $32,000. Community Bank N.A. acquired a new stake in shares of Zions Bancorporation, N.A. during the third quarter valued at $36,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

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.