Zions Bancorporation, N.A. (NASDAQ:ZION) Hits New 12-Month High – Time to Buy?

Zions Bancorporation, N.A. (NASDAQ:ZION)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $67.99 and last traded at $66.27, with a volume of 1627506 shares trading hands. The stock had previously closed at $67.25.

Wall Street Analyst Weigh In

A number of research firms have commented on ZION. Stephens began coverage on Zions Bancorporation, N.A. in a research report on Monday. They issued an “overweight” rating and a $79.00 target price on the stock. Royal Bank Of Canada lifted their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 21st. Citigroup lifted their target price 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. Truist Financial lifted their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Finally, Barclays lifted their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.35.

Zions Bancorporation, N.A. Price Performance

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 stock has a market cap of $9.75 billion, a PE ratio of 10.31, a P/E/G ratio of 2.23 and a beta of 0.81. The company has a fifty day moving average of $62.15 and a 200-day moving average of $59.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.13 EPS. Sell-side analysts expect that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

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

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

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZION. Royal Bank of Canada grew its stake in Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after purchasing an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Zions Bancorporation, N.A. by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after purchasing an additional 6,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Zions Bancorporation, N.A. by 0.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after purchasing an additional 2,659 shares in the last quarter. Focus Partners Wealth grew its stake in Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after purchasing an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Zions Bancorporation, N.A. by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after purchasing an additional 625 shares in the last quarter. 76.84% of the stock is 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.